The most famous crypto, BTC, was created with several key purposes, mainly as a decentralized digital currency and alternative to traditional fiat currencies. Most of the BTC transactions happening worldwide are in USD terms via USDT etc. I have always wondered, in a state of USD collapse, how would BTC or any other cryptos fare?
Recent news flow related to USD, are below.
Currently, USD has its position of being world's reserve currency. Recently, Saudi ended 50-year petrodollar deal with US for multi-currency sales. Also, China has been selling off US Treasury bonds, to reduce its dependence on US. Rising debts of US government, may spook future investors in US Treasury bonds. These are some of the indicators, which means its not going well for USD.
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