Will the U.S. Dollar Lose Its Place as the World's No. 1 Reserve Currency?
On 2/5/21 at 2:38 PM EST
Some fear stimulus spending to offset the worst of the economic shutdown during the COVID-19 pandemic and the Federal Reserve's injection of billions into the economy threaten the U.S. dollar's standing as the world's reserve currency.
Some investors have moved out of dollars and into gold. While it's hardly a stampede, it could be seen as further evidence of the dollar's increasing weakness. Others see Bitcoin as an inflation hedge, and last month investors drove the price of the cryptocurrency to $41,973, an all-time high.