Morgan Stanley says paradigm shift (pro- Bitcoin and CBDCs) threaten US dollar’s dominance

<p>A note from Morgan Stanley emphasised what it referred to as “a paradigm shift in the global perception and use of digital assets”, citing:</p><ul><li>106 million people holding Bitcoin</li><li>Bitcoin ATMs available in over 80 countries</li><li> spot Bitcoin exchange-traded funds (ETFs) approved by the U.S. Securities and Exchange Commission (SEC) </li></ul><p>And that central bank digital currencies (CBDCs) have the potential to establish a unified standard for cross-border payments, which could diminish the reliance on traditional intermediaries like SWIFT and the use of dominant currencies such as the dollar</p><p>MS says such developments will chip away at the dominace of the US dollar, weakening its hold on global financing. </p><p>Bitcoin update:</p>

This article was written by Eamonn Sheridan at www.forexlive.com.