de-dollarization

According to Jinshi News, Allianz Investment is considering purchasing US dollars. In the previous months, the company had been betting on the depreciation of this American currency, while the resumption of the Middle Eastern war has restored its status as a safe-haven asset. The Chief Investment Officer of the multi-asset strategy, Greg Hirt, stated that there are "ample reasons to buy US dollars" in the short term. On Monday, the dollar rose to a three-week high against a basket of currencies. Hirt pointed out that although he still believes in the trend of de-dollarization in the long term, it may be necessary to return to a more neutral stance in the short term.

According to Forbes, discussions about the impact of cryptocurrencies on the traditional financial system have significantly intensified in the context of the 2026 Davos Forum. Analysts point out that Bitcoin is becoming one of the key assets in the "Anti-Dollar Trade," reflecting global investors' concerns about the uncertainty of U.S. policies.Jamie Dimon, the CEO of JPMorgan, who publicly called Bitcoin a "scam" in 2017, has shown a notable shift in stance. In November 2025, JPMorgan became the first major U.S. bank to issue dollar deposit tokens on a public blockchain. Although Dimon has not fully embraced Bitcoin, he has acknowledged that "blockchain is real" and continues to promote blockchain services for institutional clients. This move is seen as paving the way for further development in the crypto industry.Meanwhile, deVere Group CEO Nigel Green warns that structural cracks are emerging in the dollar's dominance. He points out that the frequent fiscal standoffs and government shutdown risks in the U.S. are undermining the three pillars that support the dollar's status as the global reserve currency—institutional stability, fiscal credibility, and policy predictability. The current partial government shutdown threatens over $1.2 trillion in federal spending, exacerbating market pricing of U.S. political risks. Green believes that in this context, a multipolar currency system is becoming more realistic. In addition to the euro, yen, and some emerging market currencies, digital assets are also beginning to be included in strategic hedging discussions. Central banks around the world have been continuously reducing their dollar reserves and increasing allocations to gold and other currencies in recent years, while political shocks are accelerating this trend.

ChainCatcher news, according to Bloomberg, JPMorgan stated that despite significant differences in forecasts for future demand for digital assets, the global adoption of stablecoins in the coming years could drive trillions of dollars into the dollar system; and the growth of stablecoins will not accelerate de-dollarization, but may instead reinforce the dollar's status.Estimates from various bank strategists regarding the eventual size of the stablecoin market vary widely, even within JPMorgan itself. An emerging markets equity strategy team expects this market to eventually expand to about $2 trillion. The bank's U.S. interest rate strategists are more cautious, estimating the size to be around $500 billion. Based on the upper end of this range, JPMorgan's forex strategists expect that by 2027, approximately $1.4 trillion in additional dollar demand will support the growth of the stablecoin market. This figure is substantial, but still far below the $8.6 trillion daily trading volume of dollar currencies as per the latest statistics from the Bank for International Settlements.

ChainCatcher news, according to Jinshi reports, Citic Securities research report indicates that cryptocurrencies have good privacy and anti-inflation properties, growing rapidly since their inception, and are gradually being formalized as assets. As the demand for cryptocurrencies expands, it forms a fundamental demand similar to gold, establishing a speculative pricing pattern.However, in the short term, due to insufficient monetization and the high risk appetite of marginal price setters, cryptocurrencies are even more speculative. In the medium to long term, it is expected that both cryptocurrencies and gold will benefit from the monetization brought about by de-globalization and de-dollarization. "Future gold" does not necessarily include Bitcoin, but it is highly likely to include cryptocurrencies. In the short term, cryptocurrencies are expected to benefit from potential regulatory easing during Trump's term, but certainty in trade and foreign policy needs to be awaited.

ChainCatcher news, according to Cointelegraph, governments, national pension funds, and sovereign wealth funds are increasing their investments in Bitcoin ETFs. This trend is primarily driven by factors such as de-dollarization, changes in the energy market, and increased institutional confidence.

ChainCatcher news, BitMEX co-founder Arthur Hayes stated: "The era of U.S. Treasury bonds (and to a lesser extent, U.S. stocks) as global reserve assets is coming to an end. Since Nixon decoupled the dollar from gold in 1971, the total amount of U.S. Treasury bonds has increased by 85 times. The U.S. has had to create credit currency that matches global economic growth. This is a boon for some Americans and a bane for others. Trump's election was driven by those who felt they had not shared in the 'fruits of prosperity' over the past 50 years.Once the U.S. current account deficit is eliminated, foreigners will not have dollars to purchase U.S. bonds and stocks. If countries begin to shift towards 'national priority' policies to boost their own economies, they will sell off their holdings of U.S. Treasuries and stocks to gain liquidity in their own currencies. Even if Trump later softened his stance on tariffs, no Treasury Secretary or head of state would dare to bet that he wouldn't flip-flop again. Therefore, the world cannot return to the way it was before. Every country must fight for itself.Gold will return as a neutral reserve asset. The dollar will still be the global reserve currency, but countries will settle global trade by holding gold. Trump has hinted at this, as gold is tariff-free! In the new monetary system, gold must circulate freely and at low cost.Today, those who have benefited immensely from the old system are mostly still in denial, immersed in a fantasy: that everything will eventually return to 'normal.' Absurd to the extreme.Those who wish to adapt to a return to the global trade order before 1971 should buy gold, gold mining companies, and Bitcoin (BTC)."

ChainCatcher news, according to Bitcoin.com, gold market analyst Jan Nieuwenhuijs stated that the Bank of Thailand's continuous purchases of gold may indicate that the country is preparing to use the CBDC cross-border settlement project mBridge to address the imbalances in the CBDC-dominated trading system.The analyst noted that just days before the release of the minimum viable product (MVP) of mBridge, China and Thailand signed a bilateral currency trading cooperation framework, with China and Thailand being two of the first members of the mBridge platform.