I think the best flea on the dog idea wins in the end. All Central Banks openly colluding at this point (as they probably should be) and all Govs are incurring record debt. What's funny is when people say something like "but why is the dollar strong?" after looking at a chart.  I usually say something like, "is it really? Can you buy the same amount of stuff with 100 dollars that you could 2 years ago?  Not even close. Charts like UUP are meaningless for charting actual purchasing power....unless you're living in a foreign country with a USD bank account (then the changes are something you tend to track and notice a lot). 

Also, no country with a functioning central bank is going to allow a competing currency e.g. crypto...unless it's a CBDC.  I find it kind of amusing that so many people think the Gov will end up conceding to another (internal) currency instead of taxing every crypto transaction as if it's a capital asset, like they do now (which makes it completely unusable for transactions, IMO).