America's global supremacy is waning, which is why the dollar is becoming less dominant. This is primarily due to Biden's conceited and lax policies in comparison to bitcoin. I'm not stating this to defend Putin or Trump, but the situation and recent changes are significant.

Russian-Ukrainian conflict's effects on America

     Biden has cost the United States money by inappropriately intervening in the war between Russia and Ukraine. The lack of economic planning has already caused inflation to rise; the cost of the conflict has created a number of internal issues; and it has discouraged people from assisting Ukraine on its own. The crisis has begun to occur only when the dollar runs out in order to halt this.

International Penalties Bolster Bitcoin

The United States has placed economic sanctions on nations like Iran, Russia, Cuba, and others. Due to these limitations, the dollar economy as a whole has been constrained, making it harmful for the nations that, despite being rivals, used to trade in the dollar due to its economic potential. With the advent of bitcoin, it has been superseded. Even supported countries are accepting Bitcoin.

Growling Rival

Narendra Modi in India and Xi Jinping in China have started international agreements to allow their countries to do international trade in their national currencies. Here, it is not bitcoin but the fiat currency of other countries that has weakened the dollar. Biden is not strengthening ties with various countries here.