Jefferies Group head: Dollar collapse will benefit Bitcoin holders

Chris Wood, the global equity strategy director of well-known Wall Street investment bank Jefferies Group, stated that the potential collapse of the US dollar standard could greatly benefit Bitcoin holders in the country. A series of macroeconomic problems such as aggressive monetary policies and constantly rising debt levels have posed increasing risks to the dominant position of the US dollar as the world's main reserve currency over the long term, which may lead to more individuals adopting Bitcoin as a hedge fund.

Bitcoin is being allocated because of its huge potential. This is because, given the increasing evidence of G7 currency depreciation strategies over the past twenty years, cryptocurrency provides a good choice for seeking value storage for safe-haven capital.

If this unconventional monetary policy is not responsibly cancelled, it is expected that the current US dollar standard will collapse. Therefore, he believes that Bitcoin and gold holders may reap huge benefits, making them the main beneficiaries in a financial environment with significant fluctuations in legal currency.