Bitcoin and Stablecoins Gain Steam as Alternatives to Dollar Dominance
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Bitcoin price has doubled over the past year due to hype around spot bitcoin ETF approvals by SEC
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Wall Street firms predict bitcoin and stablecoins could threaten dollar's global dominance
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Dollar dominance questioned amid geopolitical shifts and growing U.S. deficits
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Global adoption of dollar-pegged stablecoins has seen exponential growth, processing $10 trillion in 2022
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Fears over dollar dominance also due to massive money printing during Covid crisis, potentially fueling bitcoin