Crypto May Benefit From Global Shift Away From U.S. Dollar
In a time of global economic uncertainty, crypto may be poised for a long-term breakout. According to Barnali Biswal, CEO of Hilbert Group, the world is shifting away from U.S. dollar dominance — a change that could redefine crypto’s role in global finance.
Speaking on Deribit’s Crypto Options Unplugged podcast, Biswal emphasized that while short-term volatility remains high, macroeconomic trends could eventually support greater digital asset adoption.
De-Dollarization Could Spark a New Era for Crypto
Biswal highlighted a “multipolar world” emerging from recent geopolitical tensions and trade upheavals. With President Donald Trump’s “Liberation Day” tariffs causing tremors in global markets, many are reassessing the role of the U.S. dollar as the world’s reserve currency.
“We are shifting substantially into a multipolar world where there could be a period of de-dollarization,” said Biswal. “That’s a pretty significant change, and markets will take some time to adjust to that new normal.”
Such a shift could boost crypto by offering a decentralized, borderless alternative to fiat currencies amid geopolitical realignment.
Hilbert Group’s Strategic Perspective
Hilbert Group, founded in 2018, uses quantitative and algorithmic trading strategies based on the volatility and decorrelation properties of cryptocurrencies. The firm believes that crypto’s structural characteristics position it well in a post-dollar-dominant world.
“Structurally, everyone feels at a very good place in the crypto market in general,” said Biswal. However, she acknowledged the drag of “policy uncertainty” on short-term risk assets, including both equities and digital currencies.
Stagflation Fears Add Weight to Market Volatility
David Brickell, Head of International Distribution at FRNT Financial, echoed the concerns during the podcast. He pointed to stagflation risks — a combination of sluggish growth and persistent inflation — as major headwinds.
“Friday’s stronger-than-expected PCE inflation data paired with weaker consumer sentiment is the worst scenario for risk,” said Brickell. “We’re in this slowing, not collapsing, growth environment.”
This economic backdrop continues to challenge both traditional and crypto markets, but long-term fundamentals remain strong.
Outlook for Crypto in a Changing Global Landscape
Despite the market chop, institutional adoption, regulatory evolution, and global currency diversification trends are seen as major tailwinds for crypto in the medium to long term.
As uncertainty builds around fiat currencies and trade policy, many investors are beginning to view crypto not just as a speculative asset but as a strategic hedge in a rapidly evolving financial landscape.