It's cool to see this play out in real time, when it seems like the inevitable and obvious outcome since 2020. With the global debt situation and the global geopolitical situation deteriorating rapidly, the necessity for a neutral reserve asset to conduct global trade becomes acute. The “basket of currencies and commodities” idea floated by BRICS was clearly unworkable. Gold is the obvious answer, but it just isn't practical or competitive in the era of telecommunications and online business. The yuan and stablecoins have their own issues. The only perfect solution is Bitcoin, the game theory is just going to play out that way. Just my opinion of course, but it's crazy to see the speed at which things are playing out under wartime necessity.
Apr 11
at
2:25 AM
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