Warren Buffet Assures The Dollar Will Remain the Dominant Global Currency by 2065
According to several experts, there are concerns about the US dollar's position as the world's primary reserve currency and its role in global trade and investment.
However, billionaire investor Warren Buffett remains optimistic about the dollar’s future, dismissing the idea of de-dollarization.
During Berkshire Hathaway’s annual shareholder meeting in May, Buffett stated confidently that the US dollar would continue to be the reserve currency, given the significant dollar reserves held by many countries. Governments worldwide trust the stability and reliability of the dollar as a secure store of value for international transactions.
Buffett’s bullish views on the dollar have been consistent over the years. 2015 he predicted that the world would still heavily rely on the dollar by 2065. He even expressed the possibility of the dollar maintaining its status indefinitely during a previous gathering in 2013.
Buffett’s business partner, Charlie Munger, also shares a similar perspective, suggesting that the dollar will remain the world’s reserve currency for at least two more decades. Nevertheless, both Buffett and Munger have warned against the US government’s excessive money printing, fearing the potential negative consequences on the dollar’s value and purchasing power.
READ MORE: Bitcoin: Survey Reveals the Majority of Americans Predict New All-Time High
While the US Dollar Index has experienced a decline of 6% in the last year due to decreasing inflation rates, some experts blame this on the unprecedented government spending during the pandemic. The excess money supply and rising inflation have diminished the dollar’s purchasing power.
Despite the challenges, Buffett and Munger’s confidence in the dollar’s long-term prominence offers reassurance to investors who may be worried about de-dollarization. Nonetheless, the situation remains uncertain, and cautious measures are necessary to safeguard the dollar’s stability as the world’s reserve currency.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
