Steven Mnuchin, US Treasury Secretary, has rejected recommendations that the Trump administration was damaging the dollar via its policies that limited trade with other nations. Max Keiser was joined by Mark Yusko, Morgan Creek Capital's CIO and American investor to address media reports that altering the greenback could destroy its world reserve currency status. Yusko said that China’s digital Yuan will soon trump the hegemony that the US Dollar currently holds, paving the way for other digital currencies like bitcoin. They also examined options to the US dollar. Yusko stated they have been continuing this for decades; they have always weaponized the United States and dollar. 
<h2>Mark Yusko States Bitcoin Will Enter The Race</h2>
Yusko explained that weaponizing currency could only be done by the world reserve currency, which has been previously held by the nation with the most powerful navy. He stated those nations at different times were Spain, Portugal, the UK, France and the USA.

The dominance of the US Dollar in the international trade market is well known, and this often leads to trade sanctions for countries that do not fall in line with their idea or demand. With the emergence of digital currency like bitcoin as an immutable cross-border remittance option, many countries like China and Iran are looking to use CBDC to bypass the use of the US Dollar for international trade.
<h2>Next War Will Be Fought By Chips</h2>
Yusko <a href="https://youtu.be/O96tZjgiWwE">said</a>, "China has figured out that the next war will be fought by chips, not ships, it will be a cyberwar. And we already see elements of that… So, I think what's going to happen is that they are going to win the race to the digital national currency, the digital renminbi that will displace the US dollar hegemony and world reserve currency dominance."

According to the hedge fund manager, bitcoin would ultimately enter the race. According to him, central banks would hold bitcoin, it would establish a status of the world reserve currency, and it would be the system's part. Yusko stated that one could not deter a nation if the option were they could transfer their bolivars or others into <a href="https://www.cryptoknowmics.com/tag/bitcoin/">bitcoin</a> as it would be unconfiscatable. Yusko cited that China’s digital Yuan would soon displace the US Dollar’s hegemony currently holds, paving the way for other digital currencies like bitcoin.

China's Digital Yuan Will Replace The US Dollar's Hegemony And Bitcoin Will Enter Race

Yusko cited that China’s digital Yuan would soon displace the US Dollar’s hegemony currently holds, paving the way for digital currencies like bitcoin.

Shailesh is an ardent follower of the crypto world and keenly watches every development taking place in the cryptocurrency space. He loves to voice his opinions through well-curated blogs and articles, which throw light on different facets of the crypto industry.

China's Digital Yuan Will Replace The US Dollar's Hegemony And Bitcoin Will Enter Race

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