The US centred petrodollar based global financial system is adjusting to the world where USA cannot fight a war of any scale anymore because it cannot make the war materiel required.
Not just refined rare earths but many components.
Neoliberal financialisation crippled the US industrial base and now China holds a dominant position in global supply chains.
Chinas dominance in manufacturing and commodities and power projection capacity logically results in a change to the monetary hegemony that devolves from those positions of dominance.

Bitcoin very certainly is a relevant SoV and alternative MoE in such a scenario.