Since 1482, Holland was ruled by the Hapsburg Dynasty: In 1555, Philip II assumed power in the Netherlands, and a year later he also acceded to the Spanish throne (until 1581). Philip II thus was the most powerful man of the Old and New Worlds. In the Netherlands Philip introduced the philippusdaalder or the Philip taler. However, the Dutch used the term daalder (taler) not only for the Philip taler, but also for the Spanish Real de a ocho (the peso). Together with the peso, the name daalder returned to the American colonies. There, the Spanish colonialists called it dollaro. From the dolaro it was, etymologically, only a small step to the dollar.