G7 countries hold massive reserves of each other's currencies as a foreign exchange reserves. Most of these countries also hold vast warehouses of gold reserves. Canada is the exception, as we recently liquidated all of our gold. G7 normally also hold special drawing rights (SDR) and marketable securities denominated in foreign currencies like government bonds, corporate bonds treasury bills, corporate equities and foreign currency loans.
long story short the values of G7 currencies are devaluing against crypto currencies. The SDR and G7 country currencies will be forced to alter their foreign reserve weightings and eventually include a basket of cryptos