The comparison of Bitcoin and the US dollar reveals interesting results. The dollar has long been one of the strongest fiat currencies. The situation of the dollar in the last decade is interesting. Accordingly, it outperformed 115 national currencies, 17 of which were G20 member countries. However, the dollar was strongly outperformed by Bitcoin (BTC) over the same 10-year period.
Dollar melted against Bitcoin
When we look at Kriptokoin.com, the data taken from the Bitcoin / USD price chart shows that even the fiat currency of one of the richest countries of all time cannot maintain its value against the leading cryptocurrency by market value.
Since September 30, 2013, the US Dollar has lost 99.52% of its value against Bitcoin. Interestingly, this also marks a different situation for BTC. Accordingly, it represents a price increase of more than 22,000% against the dollar.
China’s pressures
In particular, the Chinese central bank began cracking down on Bitcoin in late 2013. It also banned local financial institutions from processing Bitcoin transactions. It was also the year when some famous indices such as CoinGecko and CoinMarketCap started tracking the price of the cryptocurrency.
King Dollar pic.twitter.com/rJjG9NCMTg
— Charlie Bilello (@charliebilello) September 28, 2023
The fact that Bitcoin has outperformed the US dollar by using almost all of its purchasing power over the last 10 years has proven that BTC is an even stronger currency option versus other fiat currencies that have suffered huge losses against the US dollar. Creative Planning’s Chief Market Strategist Charlie Bilello shares a post at this point. Accordingly, on September 28, he shared an updated chart containing 115 fiat currencies that lost value against the US dollar over a 10-year period.
What does the graph say?
Interestingly, the second worst performer against the dollar is the Sudanese Pound (SDG). Even Sudanese Pundu showed a different situation against Bitcoin. Accordingly, BTC loses less against the dollar. However, this situation must of course be attributed to the potential of the Bitcoin price. Because it is possible to reach five-digit prices from single-digit prices.
Recently, interesting data emerged regarding the movement of Bitcoin in 2023. Accordingly, we explained how it performed against the Indian Rupee (INR) and Pakistani Rupee (PKR). BTC does not have a 10 year history against INR or PKR. However, a comparison is possible considering that they lost 24.7% and 63.6% against the dollar. It would be fair to conclude that its ten-year losses against Bitcoin are 99.63% and 99.82% respectively.
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