> But it is backed by reputation, threat of litigation and physical violence (police/military) if you try to interfere with it, where as crypto doesn't yet have

> But it is backed by reputation, threat of litigation and physical violence (police/military) if you try to interfere with it, where as crypto doesn't yet have this. Also by the fact that the companies of the S&P 500, who are generally based in the US, account for a large portion of global transactions, which they tend to do with USD. If anyone wants to participate in the global economy, the USD often provides the least amount of friction in transactions. The other most popular/useful/"valuable" currencies, per forex trading volume, are: EUR, JPY, GBP, AUD, CHF, CAD. * https://en.wikipedia.org/wiki/Foreign_exchange_market#Trading_characteristics https://en.wikipedia.org/wiki/Foreign_exchange_market#Tradin... * https://fxssi.com/the-most-traded-currency-pairs https://fxssi.com/the-most-traded-currency-pairs