You get a massive return in local currency from holding onto virtually any asset other than local currency or local currency denominated debt if your own curren

You get a massive return in local currency from holding onto virtually any asset other than local currency or local currency denominated debt if your own currency has hyperinflation. People overseas want dollars because dollars are extremely easy to transact with and many companies [especially outside their country] accept only dollars, not because a price graph and a tweet from Elon Musk have convinced them that dollars will be even more popular next year. The actual mechanism that ensures many of these companies will continue to accept dollars next year is financial obligation, not hype.