A Decade Of Dollar-Denominated Debasement Debauchery
01/Nov/2008: A pseudonym of unknown nationality sent an email carrying word of Bitcoin, a peer-to-peer, electronic cash system with no trusted third party. The New York Times 02/Dec/2008: “U.S. Recession began last December, economists say” The Times 03/Jan/2009: “Chancellor on Brink of Second Bailout for Banks” The New York Times 03/Feb/2009: “Bailout Plan: $2.5 Trillion and a Strong U.S. Hand” Source The 12 years since those headlines, that January 3, 2009 Genesis bitcoin block and the global financial crisis that spurred the Bitcoin network’s creation, have been defined by....
Related News
Since 2010, inflation has turned $1 into 84 cents while $1 invested in Bitcoin would be worth $274,000. Bad news — the increase in the Bitcoin (BTC) price over the past decade may have been overstated because of the accompanying fiat inflation. Since Bitcoin is typically denominated in fiat — United States dollars usually — it is not immune to its depreciation.Bitcoin price versus Bitcoin price adjusted for inflation. Source: Cointelegraph.In the decade that followed the economic crisis, the U.S. enjoyed some of the lowest inflation in history, which hovered around 2% annually. However,....
The chairman of investment firm Sanders Morris Harris, George Ball, says cryptocurrencies are an effective hedge against currency debasement. In addition, he says that cryptocurrencies are attractive as a small part of portfolios. George Ball Advocates for Crypto as Hedge Against Currency Debasement George Ball talked about bitcoin and other cryptocurrencies in an interview with Yahoo Finance last week. He described two main reasons why cryptocurrencies are now ideal targets for investment by wealthy individuals and institutional investors. Ball is currently the chairman of investment firm....
The El Salvador and Blockstream partnership to issue cheap, U.S. dollar-denominated debt to directly buy bitcoin is a new version of speculative attack.
The year was 2009 and the dollar had just recovered from The Great Recession. Bitcoin was born and grew up while the dollar regained its throne. After ten years of strengthening, the pandemic and associated monetary response to sustain the economy, caused the almighty dollar to weaken again. And according to the Dollar Currency Index […]
Soros Fund Management's CIO said that Bitcoin is no longer out on the fringes, thanks to the debasement of the U.S. dollar over the past year. Soros Fund Management chief information officer Dawn Fitzpatrick said Bitcoin (BTC) may once have been considered a fringe asset, but the inflation of the United States dollar has changed that.Speaking to Bloomberg, Fitzpatrick said her firm — an asset management fund created by global investor George Soros — had recently begun to take an interest in Bitcoin.“We think the whole infrastructure around crypto is really interesting, and we’ve been....