Commentary As the U.S. dollar continues to lose its purchasing power, there are legitimate fears that its days as the global reserve currency are coming to an end. Although it is still very much the international currency of choice, the dollar, like all currencies, must move with the times. You see, the future of money is very much digital. While the Biden administration is busy debating the merits of a digital dollar, China is busy unleashing its digital yuan. According to Ray Dalio, one of the world’s most successful hedge fund managers, the digital yuan will pose a threat to the dollar–unless the dollar moves with the times. Brian Armstrong, the CEO of Coinbase, one of the biggest cryptocurrency exchange platforms in the world, echoes Dalio’s sentiments. Both men are highly knowledgeable experts; when they speak, we should listen. More importantly, the Biden administration should listen. A digital yuan is …
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