Morgan Stanley sounds alarm on US dollar

Morgan Stanley has warned about the risk of the U.S. dollar losing its dominance, fueled by growing interest in digital assets, including bitcoin.

The investment bank stated: "A clear shift towards reducing dollar-dependency is evident, simultaneously fueling interest in digital currencies such as bitcoin, stablecoins, and CBDCs."

Join the Bitcoin.com News Telegram channel for the latest crypto news updates, sent straight to your phone!

Follow now

In the news

JPMorgan warns of incoming bitcoin selloff with Grayscale outflow

The global investment bank has warned of additional outflow from Grayscale's bitcoin fund.

The bank's analyst also explained that the $3 billion inflow into new spot bitcoin exchange-traded funds (ETFs) "reflects a rotation from existing bitcoin vehicles" or "from retail investors shifting from digital wallets held with exchanges/retail brokers to cheaper spot bitcoin ETFs."

Mining digital gold — These are the most profitable PoW algorithms
In September 2022, Bitcoin's SHA256 algorithm ranked as the seventh most lucrative proof-of-work (PoW) network for mining.

Fast forward a year and four months, and this algorithm has ascended to become the third most profitable crypto network for mining operations.

Mad Money host Jim Cramer doubts Bitcoin will find its footing
Jim Cramer has doubled down on his bearish bitcoin price outlook, predicting that the cryptocurrency will continue to struggle.

"Unlikely that bitcoin finds its footing," Cramer emphasized, after previously declaring the recent price drop a "nasty beginning" to a significant downward spiral.

Sponsored by Bitcoin.com News

With 4 million monthly unique visitors, over 9,000,000 monthly pageviews, and a massive social media following, don't miss the chance to advertise your crypto project or token with Bitcoin․com News. Reach out to ads@bitcoin.com today!