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Saxo Bank predicts dollar declines, crypto grows, Nvidia surges
(MENAFN) Denmark's Saxo Bank has published its yearly list of “outrageous predictions,” contemplating potential but improbable events that could disrupt global financial markets in 2025.
The investment bank’s forecast suggests that next year, the world will seek alternatives to the US dollar after the incoming administration of Donald Trump imposes large tariffs on imports, while also reducing government spending with the help of an Elon Musk-led Department of Government Efficiency.
“The consequences for the US dollar are severe for global trade, as it cuts off the essential supply of dollars required to maintain the functioning of the global USD system, ironically threatening a significant surge in the US dollar,” stated Saxo's chief macro strategist, John Hardy.
Consequently, the cryptocurrency market is expected to soar, growing fourfold to over $10 trillion, while the US dollar is projected to drop 20% against major currencies and 30% in comparison to gold.
Analysts at the Copenhagen-based bank also foresee Nvidia, the chip-maker, potentially seeing its market value rise to twice that of Apple, ‘boosted’ by an increased availability of its groundbreaking 208-billion transistor Blackwell chip.
The investment bank’s forecast suggests that next year, the world will seek alternatives to the US dollar after the incoming administration of Donald Trump imposes large tariffs on imports, while also reducing government spending with the help of an Elon Musk-led Department of Government Efficiency.
“The consequences for the US dollar are severe for global trade, as it cuts off the essential supply of dollars required to maintain the functioning of the global USD system, ironically threatening a significant surge in the US dollar,” stated Saxo's chief macro strategist, John Hardy.
Consequently, the cryptocurrency market is expected to soar, growing fourfold to over $10 trillion, while the US dollar is projected to drop 20% against major currencies and 30% in comparison to gold.
Analysts at the Copenhagen-based bank also foresee Nvidia, the chip-maker, potentially seeing its market value rise to twice that of Apple, ‘boosted’ by an increased availability of its groundbreaking 208-billion transistor Blackwell chip.
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