Stablecoins leads the dominance of the US dollar, as FED faces the new “Balance Law”: billionaire Shamath in LaBenetia
Chamcoins is now strengthening the position of the US dollar as the most dominant currency in the world.
In a new post on the online writing platform, Palihapitiya is cite the federal reserve Data To show that the US dollar rose to its highest level in four decades.
According to the billionaire, the meeting factors of the macroeconomic in addition to the high dependence of the dollar in the dollar Contribute To the power of the US dollar against other Fiat currencies.
“The US dollar is in its highest rating in 40 years, which reflects the strength of the dollar against other global currencies …
This increase in the strength of the dollar stems from multiple factors: the Federal Reserve has attracted interest rates from zero proximity to more than 4 % of global investors looking for higher returns on the assets offered in dollars, while the geopolitical uncertainty has strengthened the safe dollar.
The dollar stablecoins such as USDT and USDC have paid the dominance of the extended American currency, creating a form of “digital dollar” that increases global demand for dollars even in cryptocurrency markets. “
But Palihapitiya highlights that the growing dollar is a double -edged sword. Although it increases the strength of Americans to buy foreign products and assets, Palihapitiya indicates that a strong dollar can weigh to the performance of American companies. The strong dollar can also lead to a financial crisis elsewhere.
“The consequences of rippling the power of the dollar throughout the global economy. The federal reserve is currently facing an additional law for the budget, as the dollar helps the strongest fighting local inflation through the licensing of imports, but the risks that lead to financial instability abroad may eventually hurt American markets. The United States loses a more expensive competitive ground around the world.”
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