Cryptocurrency enthusiasts have long talked about the possibility of the dollar losing its relevance in the global economy. That idea appears to be gaining traction as more economists watch cautiously for signs of a waning use of the dollar in the global economy.
In a recent interview, Ray Dalio, Bridgewater's founder, a highly respected investment firm said "the era of a dollar-dominated world order and a globalized economy is fading away, with the major powers now forming "economic, currency and military blocks.
According to Dalio, the US, Europe and Japan "have run up very large debts and have developed a dependence on their central banks to print money to buy the government debts," he said. The increase in debt monetization "will mean that holders of debt assets will get bad inflation-adjusted returns."
Another notable event that signals the fall of the dollar dominance was the announcement by Saudi Arabia stating that it is open to trading oil in other currencies.
Even though the famous investor doesn't say anything about investing directly in cryptos he does recommends investing in assets that have "sound finances", that are not involved in conflicts, that are less vulnerable to international war, and continue to innovate.
If the dollar opens up some space, Bitcoin may just be the perfect choice for most investors. The world's largest cryptocurrency is quite acessible, easily tradable, neutral and decentralized. This great currency could end up not only protecting it's owners but also bringing profit as demand grows.