Coinbase former CTO Balaji Srinivasan said the US Dollar (USD) is not too big to fail and expects Bitcoin (BTC) to replace it as the global reserve currency.
Srinivasan pointed out that unlike in the past when investors have flocked to dollar-denominated assets during a time of stress, this is a different time. He noted that historical data shows that people exit devaluing currencies, which is where USD falls into.
“Dalio has a different definition of historical reserve currencies. He says it’s the US dollar, then before that the British pound, then before that the Dutch guilder. But the point remains that reserve currency status doesn’t last,” Balaji added.
