De-dollarization is real. It began to accelerate significantly in 2008, when US financial leaders chose to use unlimited quantitative easing (QE Infinity) to rescue banks and financial institutions facing collapse due to misguided bets, rather than allowing them to fail naturally. A useful indicator of global central banks' response to holding trillions of dollars in dollar-denominated assets is the proportion of gold in their foreign exchange reserves. A higher proportion of gold in reserves indicates lower trust in the US government.
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Earlier that month, he sold $8.32 million worth of Ethereum as the price neared $3,500, citing macroeconomic concerns. When ETH rebounded above $4,150, he bought it back in, admitting on social media: "Had to buy it all back. I swear, I'm never taking profits again."
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The DAT concept can be traced back to Michael Saylor's decision five years ago. At the time, he transformed his publicly listed software company MicroStrategy (now renamed Strategy) into a Bitcoin accumulator. After Bitcoin's significant price increase, especially by the end of last year, Strategy's shareholder value grew exponentially. The company's Bitcoin-centric strategy transformation suddenly seemed incredibly wise, and Strategy's success inspired imitation in the crypto realm.
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