Analyst: Holders of the US dollar will become "quite poor".

According to a report by Bijie Network: Economist Peter Schiff has warned that the surge in gold prices to over $5,000 per ounce and the trend of de-dollarization pose a devastating blow to the US dollar and dollar-denominated assets, including bitcoin. He predicts that by the end of the year, those holding such assets will see a "significant shrinkage," noting that the rising demand for commodities and the US Dollar Index (DXY) dropping to a low of 96.9 both indicate weakening market confidence in the dollar.