BRICS Paved the Way, but Bitcoin Could Destroy the Dollar
The Dollar Is on Borrowed Time. That’s the message from Jeremy Siegel, senior economist at WisdomTree, as he predicts that Bitcoin—not BRICS—could dethrone the US dollar as the world’s reserve currency.
For years, the BRICS alliance—Brazil, Russia, India, China, and South Africa—has waged a campaign to unseat the dollar in global trade. But Bitcoin, fueled by Trump’s bizarre pro-crypto stance, may succeed where BRICS has faltered.
The BRICS vs. Dollar Battle
In 2022, Russia’s invasion of Ukraine unleashed a new wave of anti-dollar sentiment. Sanctions from the West left Russia scrambling for financial survival, driving the BRICS nations to push for de-dollarization. Their strategy was clear: weaken the dollar’s grip on global trade by creating alternative payment systems and even a shared currency.
But the BRICS plan hit a snag. Enter Donald Trump, now poised to retake the White House. Trump has threatened 100% tariffs on BRICS nations daring to bypass the dollar. Yet, in a stunning twist, Trump also parades Bitcoin’s meteoric rise—claiming it as proof of his pro-crypto policies.
This contradiction isn’t lost on Siegel, who finds Trump’s stance “curious.” While Trump thunders against BRICS’ de-dollarization agenda, he simultaneously celebrates Bitcoin as an alternative global currency.
Bitcoin: The Real Threat
“Bitcoin is far more dangerous to the US dollar’s dominance than gold or anything BRICS might cook up,” Siegel warns. And he’s not wrong. Bitcoin’s surge past $100,000 has captured the world’s attention. Its decentralized nature offers nations an escape hatch from dollar dependency—no sanctions, no tariffs, no strings attached.
Siegel goes further: “Bitcoin’s rise is eerily similar to what the BRICS nations aim to achieve—a global currency alternative to the dollar. But Bitcoin has the potential to do it faster and more effectively.”
With Bitcoin projected to hit $200,000 next year, its momentum seems unstoppable. Nations burned by the dollar’s weaponization are stockpiling BTC, not just gold or yuan. Trump’s unpredictable embrace of Bitcoin could even fuel this trend.
Trump’s Crypto Gamble
While Trump threatens trade penalties on BRICS nations for sidelining the dollar, his advocacy for Bitcoin adds a layer of complexity. Siegel suggests that the former president might see Bitcoin as a tool for America's advantage but warns that it’s a double-edged sword.
For Americans, the lesson is clear: don’t wait for the elites to save you. If Bitcoin becomes the global reserve currency, the dollar’s decline will hurt ordinary citizens the most. Storing crypto as a reserve currency is viable for nations, but individuals must act now. Begin accumulating Bitcoin and gold to hedge against the inevitable collapse of the greenback.
By diversifying into these hard assets, Americans can protect their wealth and take back control from a financial system designed to bleed them dry.
The Road Ahead: Freedom or Financial Ruin?
The dollar’s days as king of the global financial system may be numbered. Bitcoin, backed by its decentralized appeal, could attract more nations to break free from the dollar’s grip. Meanwhile, BRICS continues its campaign to erode the greenback’s clout.
For everyday Americans, this spells trouble. As the dollar weakens, inflation could soar, savings could evaporate, and the financial system could buckle under the strain. Yet, the banking elites distract us with entertainment and tech gimmicks, hoping we won’t notice the impending collapse.
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