On August 20, PANews reported that Matt Cole, CEO of Strive, said in a post on social media that for more than the past decade he has believed the U.S. Dollar Index (DXY) is in a structural downtrend, and that the current period may be approaching a larger-scale down-leg, which will have a significant impact on Bitcoin.

Matt Cole said that if this holds true, the next 5 to 7 years could become one of the most favorable macro environments in Bitcoin’s history. He noted that the long-term downward trend in the U.S. Dollar Index that began in the late 1960s is reflected not only in technical patterns like “lower highs and lower lows,” but also is supported by the U.S. government’s fiscal fundamentals.

Matt Cole points out that every major Bitcoin bull market cycle has been accompanied by a weakening U.S. dollar. During the 2017 market period, the DXY fell from about 103 to 88; in the 2020 to 2021 cycle, the U.S. dollar index dropped from around 103 to about 89; during Bitcoin’s new all-time high in 2025, the dollar also weakened from about 108. In recent rounds, the extent of dollar weakness has still been relatively limited, and the current situation may be approaching a multi-year U.S. dollar down cycle similar to the mid-1980s and the early 2000s through the global financial crisis. The core judgment is that over the next 3 to 7 years, the U.S. dollar index may continue to fall, even challenging the 2008 low of around 70.