The euro, the currency of people who think a normal workday ends at 4 PM, has risen by 12.88% against the US dollar. And this is in a year when Americans are eating less meat to secure an 8.5% mortgage.
The EUR/USD exchange rate has risen from 1.03 to nearly 1.17 — the highest since September 2021, when masks were still the norm and TikTok was just a national security threat, not a new state religion. While the Fed plays with interest rates like they are tanks in Call of Duty, the European Central Bank is simply sitting, drinking espresso, and watching the euro take the initiative.
And now, hold on tight: the euro has risen more in six months than the Nasdaq and S&P 500. Yes, the same markets that the Fed has literally been pumping with cheap money for the last 15 years. And what about bitcoin, you may ask? This digital rebel, favored by crypto-anarchists and mom traders, showed a bit more — 14.8% growth. And you know what? The correlation between EUR/USD and BTC has reached 0.62. This means that now the euro and bitcoin are walking hand in hand. Europe and cyberpunk?
And here's something even cooler: the euro-stablecoin market (yes, they exist now!) skyrocketed by 44% — from $310 million to $480 million. EURC from Circle grew by a whopping 138%, exceeding $200 million. Of course, this is still less than 1% of the 250+ billion in dollar stablecoins, but the trend is clear: people are tired of the dollar.
So what now? Is euro-crypto integration coming? French bitcoin with a baguette? German DeFi with guaranteed insurance from the ECB?
Jokes aside, here’s what’s important: the dollar is losing its halo of an invincible global anchor. The world is slowly but surely diversifying. And when the euro — a currency created under the slogan 'too big to fail and too slow to move at all' — starts to look like a safe haven, maybe we are indeed entering a new era.
So, if you are an American looking at the rise of the euro and bitcoin with a $7 coffee and a 35-year mortgage, I have news for you: it might be time to consider a multi-currency reality where the dollar is no longer the only king of the hill.
