The dollar is losing to bitcoin, not the yuan

The Chinese yuan has recently overtaken the US dollar as the most widely used currency in international trade. The reason for the falling effect of the dollar is unnecessary fighting with bitcoin.

Dollar misuse of International Finance

The World Bank and the IMF run on the dosage of the US dollar, and they pressure the world not to use bitcoin. Such as economic sanctions on El Salvador, stopping cooperation with the Central African Republic, putting anti-crypto conditions in exchange for help for Argentina, etc. Due to this, various countries were forced to think that the dominance of the US dollar is against their freedom.

China Promotion and BTC HODL issues

China has built economic ties with various countries that are trying to break free from the influence of the US dollar, such as Saudi Arabia, Iran, Russia, Kazakhstan, etc. Russia and Kazakhstan also use crypto internationally, but due to the need to HODL bitcoin where they do not find it appropriate to spend it, they consider it appropriate to use international fiat, and the agreement made by China gave them an excuse to get rid of the dollar and keep HODLing bitcoin too.

Problematic Government agencies

A few days ago, a financial committee of Republican lawmakers questioned SEC chairman Gary Gensler, which did not yield any results, but one thing came to the fore: the SEC is destroying the newly emerging crypto industry in the US, due to which they are moving out of the US. These agencies are doing things that are difficult to recover from, such as the SEC's lawsuit against Ripple, which is not getting any results, but they are doing nothing against Chinese influence.