Circle CEO, Jeremy Allaire, has acknowledged that the threat of de-dollarization is growing. During an interview at the Currency in the Crossfire event hosted by Foreign Policy magazine, Allaire claimed that countries are taking a more serious approach to moving away from the US dollar as a reserve currency and method of trade. He noted that there is a desire for autonomy and that the world is becoming multipolar, with concerns over the weaponization of US assets and government debt. Allaire stated that while de-dollarization could take decades, it would be unwise to ignore the changes that are happening.
Allaire believes that digital assets like Circle will play an increasingly important role in keeping the US dollar competitive. He calls for the regulation of the industry and for the digital dollar to be made a commodity for export to the world to increase competitiveness. Investors are encouraged to conduct due diligence before making any investments in cryptocurrencies or digital assets, as losses incurred are their own responsibility. The Daily Hodl does not endorse buying or selling any cryptocurrencies or digital assets.