The BRICS currency is one of the top developments for the BRICS bloc in 2024. Many experts are expecting updates on the currency to be revealed in the coming months leading up to the next summit. While some believe that the BRICS currency will be a danger to the US Dollar, billionaire Warren Buffet remains set on the US Dollar remaining supreme for years to come.
Buffet has been a strong proponent of the US Dollar being the top currency worldwide for trade. However, part of BRICS’ overall mission is for global abandonment of the greenback, hence the development of its currency. Furthermore, BRICS hopes that its new currency as well as local currencies will take more precedence in trade between nations than USD.
Warren Buffet previously predicted that the US Dollar would remain supreme as the top global currency until at least 2065. Since that prediction, it has indeed remained one of the most widely-used currencies globally. This is despite losing strength in the past year. Furthermore, Buffet has yet to change his mind, still hanging his hat on the US Dollar for years to come.
Also Read: Will BRICS Currency Be More Valuable than the US Dollar
Experts agree that the currency weakened in 2023, and may not be one of the ten strongest in the world. However, for a brand new currency like BRICS currency to upstart right at launch would be unheard of, and extremely difficult for the alliance to pull off. Thus, Warren Buffet is not fearful that the US Dollar will be overthrown by BRICS currency anytime soon.