Donald Trump finds himself at the center of attention over threats related to the dollar. Despite his efforts to create a Bitcoin reserve, many see a contradiction in this move.
Misunderstanding?
Trump’s alarming statements in his recent tweet about dollar trade have stirred much debate. The US president demands countries not leave the dollar zone, or they face sanctions. However, Professor Jeremy Siegel noted a contradiction in his support of a strategic Bitcoin reserve.
The Exorbitant Privilege
Donald Trump did not always see the advantages the dollar holds on the international stage. However, thanks to advisors, he became aware of the importance of the petrodollar system that solidified the dollar’s position as a world currency.
Save the Greenback
The US position to maintain dollar trade is at odds with the growing power of BRICS. These countries already control a significant portion of global resources and industry, challenging the US ability to influence their decisions.
The growing distrust towards the dollar and the emergence of alternatives such as Bitcoin raise questions about the future of the global financial system, forcing countries to reconsider their strategies for building international reserves.
