Jefferies Group Head: Dollar Collapse Will Benefit Bitcoin Holders

The potential collapse of the dollar's paper currency standard could greatly benefit the country's bitcoin holders, according to Chris Wood, head of global equity strategy at leading Wall Street investment bank Jefferies Group. A number of macroeconomic issues, such as aggressive monetary policy and rising debt levels, pose a growing risk to the dollar's long-standing dominance as the world's primary reserve currency, which could lead to more individuals adopting bitcoin as a hedge fund. Bitcoin is being allocated because of its potential. This is because, given the mounting evidence of G7 currency devaluation strategies over the past two decades or so, crypto assets offer a good option for hedge capital seeking a store of value. If this unconventional monetary policy is not removed in a responsible manner, it is expected that the current dollar paper currency standard will collapse. As a result, he argues that bitcoin and gold holders could reap significant benefits, making them the primary beneficiaries in a financial environment where fiat currencies are more volatile.