Bitcoin To Infinity? Venture Capitalist Says Crypto’s Value Vs. Dollar Has No Ceiling — TradingView News
The dollar is weakening this year. As reported, the US dollar index declined 7% year-to-date, one of its worst openings in recent history.
The dollar index measures the value of the dollar against six other major foreign currencies. As tensions between the US and several countries have increased on the trade front, worries regarding the long-term strength of the dollar are beginning to emerge.
Bitcoin Receives More Attention From Investors
As the dollar weakens, more investors are turning to Bitcoin as a potential hedge. Venture capitalist Tim Draper indicated that Bitcoin may serve as an insurance policy against the failure of fiat currencies.
He thinks the digital currency will keep appreciating in value relative to the US dollar,…
