Derivatives trader, market analyst and conference host Tone Vays has recently said that the United States dollar will lose its status as the world reserve currency by 2030.
During an interview on the Mediterranean Island nation Malta, Vays called Bitcoin a tool for wealth protection. He explained that the ongoing global inflation steals people’s savings as governments continue to print unreasonable amounts of money.
“Bitcoin will get you the freedom back, so pay very close attention to Bitcoin, I believe by 2030, the dollar will no longer be the world reserve currency,” he added.
When asked if he believes that bitcoin could ever achieve the status of world reserved currency, he said that time would tell everything, and one should sit tight until then.
He also highlighted how much he travels from the West to Asia to various other nations and how countries are gradually adopting Bitcoin. However, he avoids using bitcoin during travel because the recipients eventually sell it for their local fiat currency.
Vays also confessed that the first country to accept bitcoin as its legal tender, El Salvador, was not very high on his travel countries list before the president decided to adopt bitcoin, but as it did so, he became eager to visit the progressive state in Central America.
Vays isn’t always right with his calls, however his anticipation of the ultimate downfall of the U.S. dollar is shared by most analysts and experts. The status of a world reserve currency has been defended with enormous effort over past decades. But was it worth it?
The fiat Ponzi is in its final phase as central banks are facing an unsolvable problem: they cannot raise interest rates without crashing the economy and they cannot print more money without causing extreme inflation.
The economies around the world are struggling as higher prices lead to less consumption which in turn leads to layoffs and rising numbers of unemployment.
Can Bitcoin Become The World’s Reserve Currency?
In the meantime, Russia is discussing a commodity-backed currency and CBDCs are developed by central banks around the world. Does this look like the U.S. dollar is still considered a safe haven and world reserve currency?
This might as well be the beginning of the end of the petro dollar system. Bitcoiners would say yes without a doubt as they believe a competition between “hard money” and “easy money” is already decided before the race starts.
Time will tell whether Tone Vays is right or and until then, Bitcoiners and analysts will continue to use financial models and fundamental theory to try and predict the future. The possibilities as well as opportunities in this historic shift are far too compelling. Just imagine what’s in the realm of being possible now. Eventually the $30 Trillion U.S. Debt Spiral Could Spill Over to Bitcoin.