Hello dear readers and followers, the Bitcoin price action has found support in the $21,000 area, which has awakened some emotional stability among investors and traders, but what has been generating more confidence is that there is news where it has been determined that Bitcoin can become a reserve unit of global value of neutral character.
Before moving forward we must first put in context how we have reached this point of asserting that Bitcoin can become a neutral global unit of value reserve, remember that after the Vietnam War the United States began to lose control of the economic and financial system in the world.
The dollar began to weaken within the world's economic and financial system, after the central banks of other countries demanded to exchange their dollars for gold, a request that caused the United States to run out of gold reserves, which triggered the U.S. executive to unilaterally cancel the famous Bretton Woods agreement, and then the situation entered into a frank weakening of the dollar as a reserve of value.
In this sense, it is stated that since then most currencies are not backed by anything and their exchange rates are free-floating, hence, in order to maintain the dominance of the US dollar, the White House reached a clever agreement with Saudi Arabia, in exchange for military protection, the Saudis guaranteed that they would only accept US dollars for their oil, an element that has been maintained to this day.
The crisis that has been generated around the military tension involving Ukraine, Russia, China, the island of Taiwan and the United States has caused the BRICS countries (Brazil, Russia, India, China and South Africa) to intensify their ties, and they plan to expand their alliances and create a global currency, which would bring more chaos to the already deteriorated traditional financial system.
Against this unclear economic and financial backdrop, Bitcoin could become a NEUTRAL asset of value that everyone agrees on, as it is not controlled by any state.
SOURCES CONSULTED
BeinCrypto. Petrodollar: the beginning of the end is near, Bitcoin as a neutral solution. Link
OBSERVATION:
The cover image was designed by the author: @lupafilotaxia, incorporating image: ForbesIndia
I think you are right. The United States has been exploiting the world ever since it abolished the link between the dollar and gold in what is known as Nixon shock. Since then the world needs a more reliable neutral asset. Bitcoin might be the most eligible candidate...
Have a great day :) @lupafilotaxia
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Hello @qsyal
That's right, we need as soon as possible a more reliable neutral asset, and Bitcoin meets several characteristics that make it a good candidate.
Best regards, be well.
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hello @lupafilotaxia,
I personally believe that not only the US dollar is losing value, in my opinion all world economies are suffering a devaluation due to the change of technology, that is to say that while mankind creates new ways to buy and pay for products and services, the countries that have the world control of the economy lose control.
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Hello @trabajosdelsiglo
Bitcoin can play a key role in the world economy and become a neutral currency, this if we take into account that as you rightly mention all world economies are suffering a devaluation.
Best regards, be well.
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greetings @lupafilotaxia _
. you are right I think it will be like that , this way they can be more free from the monopoly of centralization.Thank you very much for sharing your publication
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Hello @dgalan
I agree with you Bitcoin will break the monopoly of traditional economic and financial structure, and can play a key role in the world economy and become a neutral currency.
Best regards, be well.
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@tipu curate 3
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Bitcoin can play a very major role in global economy. It's very good to see the price finding support at 21k$. We just hope it heads up more soonest. Thanks for sharing!
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Hello @humor0404
No doubt Bitcoin can play a key role in the world economy and become a neutral currency.
Best regards, be well.
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This is the main reason why I got into crypto and stayed in crypto. Even though the US Reserve currency system works relatively well. We live in a different world since the 1940s and 1970s. The world is moving towards a multipolar economic world…with spheres of influence…and more distrust…I think a more neutral medium of exchange and store of value thrives in that environment.
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Hello @fijimermaid
Correct, the context is not the same as 40 years ago, the development of the blockchain and all its technical functionality will bring to a future conditions for Bitcoin to become a neutral currency on a global scale.
Best regards, be well.
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BTC has the potential to become a global neutral asset and currency. However it would not be easy as USA would do has everything to maintain its place and not like to give up control so easily unless it has some personal interest in promoting BTC
Second thing is price stability which BTC would need to achieve.
As current btc price fluctuates it volatility can hurt business interests
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Hi @thetimetravelerz
I think so, beyond all the tension and distrust that states try to impose on Bitcoin, I believe that in the future it can become a neutral currency on a global scale.
Best regards, be well.
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