Triffin Dilemma warns us that a monetary system that depends on the currency of a single sovereign country as its only tool in international liquidity will undoubtedly be trapped into Triffin Dilemma. And if we want to set a stable international settlement and currency system, super-sovereign currency is required to handle financial and trade settlements among countries in a fair and just manner. It cannot directly act as a single sovereign currency to participate in specific economic affairs. Briefly, it cannot be both an athlete and a referee.
Now maybe you'll understand why Bitcoin is the best choice for super-sovereign currency. The basic mission of Bitcoin is to become a world currency and an anchor in the economic and financial order of the entire world from the moment Bitcoin was created. It can naturally replace gold and become digital gold. In the end, we will gain a new global currency and financial system with Bitcoin as the kernel. Of course, that could be long, maybe ten or twenty years. But it will certainly come.
In fact, Triffin himself wanted to use the Triffin Dilemma to criticize the gold standard system and the pound-gold standard system, not the Bretton Woods system. But this does not prevent Triffin from perfectly predicting the collapse of the Bretton Woods system.
The Triffin Dilemma warns us: The system that relies on the currency of a sovereign country as an international currency will inevitably fall into the Triffin Dilemma and collapse.
Regardless of whether this currency can be exchanged for gold, no matter which country’s currency the currency is.
Regardless of whether this currency is a national currency or an average of several national currencies, this will undoubtedly have an important enlightenment for our analysis of the future development of the international monetary system.