The US dollar's share in global forex reserves has decreased from over 70% in 2000 to about 55% in Q4 of 2023, per IMF data.

Central banks are diversifying reserves towards nontraditional currencies like the Australian dollar, Canadian dollar, and Chinese yuan, with some countries even turning to gold.

The yuan's internationalization is slowing, but it has become Russia's main foreign currency, reflecting a strengthening Sino-Russian axis.

There is discussion about potentially shifting towards Bitcoin as a neutral currency.

Concerns about the dollar's future as the primary reserve currency are growing, with analysts pointing to geopolitical implications and the impact on global financial systems.

Jared Cohen of Goldman Sachs warns that political and fiscal issues in the US could further erode confidence in the greenback.