Forbes Foresees $8 Trillion Crypto Surge Amid Looming USD Collapse, Posing Challenge to Gold as Digital Assets Take Center Stage
In a groundbreaking report from the reputable digital media source Forbes, a forecast of an $8 trillion surge amid a potential U.S. dollar collapse has been unveiled. This revelation is expected to ignite a ‘pivotal’ surge in Bitcoin, Ethereum, XRP, and the broader crypto market, presenting a formidable challenge to gold. The event marks a seismic shift that promises to redefine the landscape of digital assets, encompassing XRP, Bitcoin, and Ethereum.
Chad Steingraber, a luminary in the XRP community and a professional game designer, brought this report to the forefront for the XRP Army, marking it as a critical development. Forbes acknowledges the recent dip in major cryptocurrencies, XRP included. Yet, the crypto cosmos gleams with optimism, fueled by bullish sentiments from financial pundits and analysts, hinting at potential price surges and exciting developments in the digital asset sphere.
Forbes Exposes USD Weakness
The Forbes report on the precarious state of the US dollar, staggering under the weight of a $33 trillion debt. It reveals that analysts from the esteemed equity research and strategy firm Jefferies foresee a potential USD collapse as the Federal Reserve grapples with the necessity of rekindling its money-printing endeavors.
According to Jefferies’ experts, cited by Forbes, the Federal Reserve’s policies may catalyze a significant upswing in XRP, Bitcoin, and ETH prices. This projection stems from the potential of cryptocurrencies, particularly XRP, to rival gold’s status as a safe-haven asset while the relentless printing of cash drags the USD down.
In an exclusive interview with CNBC, Christopher Wood, Jefferies’ head of equity strategy, contends that G7 central banks, especially the Federal Reserve, are unlikely to transition smoothly from unconventional financial policies. He posits that these institutions will persist in expanding their balance sheets in various forms. Furthermore, Wood emphasizes Bitcoin and gold as “critical hedges” against the looming specter of inflation. Wood states that,
“Such a failure to exit from unorthodox monetary policy in a benign manner is likely to culminate in the collapse of the US dollar paper standard to benefit both gold bullion owners and owners of Bitcoin. Bitcoin… [now] represents an alternative store of value to gold.”
Forbes ultimately envisions a scenario where the US dollar undergoes a massive devaluation, amounting to a staggering $8 trillion, which cryptocurrencies could potentially absorb. It’s worth noting that the total crypto market capitalization presently stands at $1.09 trillion. Therefore, should $8 trillion exit the US market, it would catapult the crypto industry into uncharted territory, surging toward a nearly $10 trillion valuation.