The US dollar is losing relevance and dominance in the global markets.

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To be very honest with everyone reading this post I have not seen any interview or news that talks about ditching or dumping the united states dollar for crypto yet but I have seen a lot of interviews and news about ditching USD for other alternatives for international trades which can include crypto and their local currency. I recently watched an interview where the President of Kenya, William Ruto encourages African Nations to DUMP the US dollars for trades that do not involve the united states.

For Example: He said why should kenya traders pay for goods been imported from Djibouti and verse versa look for US dollar to complete their trades when they can make the payment in their local currency at a cheaper cost because the US dollar has nothing to do with the trade between the Kenya and Djibouti traders. He also said if it was a trade between Kenya and US, then it is fine to use the US dollar.

That being said, the US dollar is clearly losing relevance and dominance in the global markets. The US dollar's International trade dominance could become a myth soon. Because sooner or later more politicians all over the world will be encouraging their country's not to trade in dollars anymore. It is an interesting move by the President of Kenya and I think it will be quite a challenge, but moving away from the US dollar for trade could potentially lead to more economic independence for African nations. The President of Kenya's speech in that interview sparks up a conversation on alternative trade currencies. Could this be an opportunity for Bitcoin and Crypto to shine and take over the global market?

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