Whales Drive De-Dollarization; UBS & Morgan Stanley Push Crypto
De-dollarization trends are intensifying right now as wealthy investors and financial institutions are abandoning United States dollar assets. Instead, they are opting for alternative options such as cryptocurrency and gold. This notable shift is happening as major banking giants like UBS report that their ultra-rich clients are actively looking to diversify. They aim to move away from traditional dollar holdings amid ongoing global economic uncertainty. Also Read: De-Dollarization: 13 Nations Find New Chinese Yuan Usage, Shunning US Dollar Why The Wealthy Are Replacing The United States Dollar With Crypto and Gold Source: Watcher Guru Banking Giants Report Shift from Dollar Source: Reuters UBS’s co-head of wealth management for Asia, Amy Lo, stated: “Still, UBS’s rich clients are increasingly shifting away from US-dollar assets, turning to gold, crypto and China. Volatility is definitely here to stay.” The wealthy and affluent investors alike are also prioritizi...