Bitcoin's Relationship with Dollar System Found to be Mutually Complementary

A new study has found that Bitcoin and dollar-based stablecoins have a symbiotic relationship, contributing to the dominance of the US dollar in global financial markets.

According to the analysis, the main trading pairs for Bitcoin are BTC/USD or dollar-pegged stablecoins like Tether (USDT), which indicates a strong connection between the cryptocurrency and the US dollar system.

The study's author argues that this relationship is not only beneficial for the US dollar but also expands demand for dollars, much like the 'petrodollar' system where international crude oil trades are settled in dollars.