Cryptocurrency Can Never Dethrone The US Dollar, Experts Suggest
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Financial giant Morgan Stanley backs the US dollar, stating that its alternatives will never surpass it despite changing economic narratives. Bitcoin has been considered an alternative to the US dollar, but Morgan Stanley's head of G10 FX strategy argues that Bitcoin is too volatile to be a true replacement. The US economy is facing degradation with rising debt metrics, putting pressure on the US dollar. Inflation in the US has not fallen since January 2021, leading to a surge in overall prices and a loss of purchasing power for the US dollar. Despite this, experts suggest that cryptocurrency can never replace the US dollar.
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