Coinbase investors: Bitcoin may be worth 'unlimited' dollars
According to online reports, Coinbase investor Tim Draper wrote on the X platform that Bitcoin's value may reach an "unlimited" amount of dollars, which sounded the alarm for the collapse of legal trust, the historic weakness of the US dollar and the acceleration of cryptocurrency dominance. Tim Draper explained as an example that during the Civil War, the Confederate silver dollar experienced hyperinflation. By the end of the war, the ratio of the Confederate silver dollar to the U.S. dollar plummeted to more than 10 million to 1. As trust declined, people rushed to convert it into U.S. dollars. Now that the U.S. dollar index has started the year at its worst in 40 years, market confidence in the U.S. dollar may decline further, and the United States is hedging against this situation by including Bitcoin into strategic reserves.
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