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Billionaire names currency that will replace the dollar

Billionaire names currency that will replace the dollar

American billionaire founder of hedge fund Bridgewater Ray Dalio in a conversation with CNBC assumed that the Chinese yuan will become one of the most used currencies in world trade.

In particular, he drew attention to China’s official digital currency: according to the entrepreneur’s forecast, it will be more viable than its American counterpart.

“I believe that in the future people will choose their own currencies, and the most competitive currencies will be those with the strongest economic foundations. For many countries this will be a threat,” Dalio added.

Thus, in his view, the U.S. economy could be hit not only by the strengthening of the yuan, but also by domestic problems – in particular, by the growing level of indebtedness of Americans.

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