So…. The US went off the gold standard but they needed countries to carry on buying the US dollar. They had w2 very good strategies
1. Make the gulf sell oil only in us$ in return for military protection
2. Industrialise China in return for China selling all their products in US$.
China escaped and is now selling their stuff for Yuen.
Gulf countries carried on selling oil for US$.
Now….. the strait of Hormuz is blocked and the world is having to negotiate with Iran to get oil and there is really nothing the US can do. Iran will probably ask countries to pay in Yuen cos they r part of BRICS and they need Yuen to trade with China.
In a single stroke they’ve broken the Petro$.
Now the US has DEFINITELY not protected the gulf states. In steps China….
The US is dependent on trillions of US$ reinvested in the US (AI, JP Morgan, etc)
And the rest is history.
So Bitcoin??? I’m thinking there’s billion if not trillions of gulf money in the US and Europe. Now they need to get their money out without being ‘sanctioned’ and their money frozen. Do you think even a small % of this is going into bitcoin, the only money which cannot be censored?