Changpeng Zhao, head of the cryptocurrency exchange Binance, said that restrictive measures and the hegemony of the U.S. dollar will lead multinational corporations to seek protection in digital currencies. Zhao expressed his views on the matter during a podcast with Circle CEO Jeremy Allaire.

According to the head of Binance, the greater the tensions between states and the clearer the sole power of the dollar, the higher the level of acceptance of cryptocurrencies in society. Zhao noted that recently the world no longer has the unity that it once had, and the U.S. currency is increasingly used to impose sanctions.

In such an environment, cryptocurrencies, which can be used to bypass restrictions and make fast and safe transactions, will become more and more popular. First of all, the head of Binance believes, people will turn to bitcoin. Its inherent advantage over traditional money is neutrality. BTC does not belong to any country in the world and is not subject to inflation, Zhao added.

In conclusion, the expert said that the cryptocurrency is already undermining the dollar. While the United States is struggling with its proliferation, this industry continues to develop around the world. Such developments could eventually lead to the complete collapse of the U.S. economy, concluded Zhao.