Renowned economist Kenneth Rogoff argues that cryptocurrencies are eroding the US dollar’s global supremacy. In an interview with Bloomberg, Rogoff emphasized the decline of the dollar as a result of rising trends in the euro, Chinese renminbi, and the growth of crypto markets. Rogoff highlights how cryptocurrencies are becoming popular tools for tax evasion and regulatory avoidance within the shadow economy, which accounts for roughly 20% of global GDP. He believes while Bitcoin isn’t replacing the dollar entirely, its rise in unregulated financial activities is a significant concern for the U.S., potentially impacting interest rates, national security, and the overall functioning of finance systems globally.