Satoshi

Cryptocurrency

United

Bitcoin

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 <p class="paragraph">Despite going through one of the worst inflations of all time, the US Dollar (USD) has outperformed 115 global fiat <a rel="noopener noreferrer nofollow" title="currencies" href="https://thebittimes.com/tag/currencies.html">currencies</a> in the last 10 years in the forex market but got massively outperformed by Bitcoin (BTC).</p> 
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 <p class="paragraph">Notably, 33 out of the 115 <a rel="noopener noreferrer nofollow" title="currencies" href="https://thebittimes.com/tag/currencies.html">currencies</a> have lost over half (50%) of their value against “King Dollar”, in the words of Charlie Bilello, the Chief Market Strategist at <em>Creative Planning</em> who shared this data on September 28, collated from <em>xe.com</em> one day before.</p> 
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   <blockquote class="twitter-tweet" data-width="500" data-dnt="true"> 
    <p lang="en" dir="ltr">King Dollar pic.twitter.com/rJjG9NCMTg</p>— Charlie Bilello (@charliebilello) September 28, 2023 
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 <p class="paragraph">Among the five worst performers, which lost over 92% of their purchasing power related to the USD, two of them belong to the G20 countries. The Argentine Peso (ARS) lost 98.3% against the <a rel="noopener noreferrer nofollow" title="dollar" href="https://thebittimes.com/tag/dollar.html">dollar</a>, while the Turkish Lira (TRY) lost 92.6%.</p> 
 <p class="paragraph">The Venezuelan Bolívar (VEF) lost 99.9998%. While both the Sudanese Pound (SDG) and the Syrian Pound (SYP) were also just 100bps of losing it all, with -99.3% and -99.1% 10-year price performance, respectively.</p> 
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 <p class="paragraph">17 out of the G20 members have seen their legal tender <a rel="noopener noreferrer nofollow" title="currencies" href="https://thebittimes.com/tag/currencies.html">currencies</a> being outperformed by the United States. Among the losers, the Swiss Franc (CHF) was the least affected fiat, slightly losing 1.6% in the decade, followed by the Belizean Dollar (BZD) with 1.9% losses.</p> 
 <h2 class="wp-block-heading" id="h-g20-s-king-dollar-overthrown-by-bitcoin">G20’s ‘King Dollar’ overthrown by Bitcoin</h2> 
 <p class="paragraph">However, 10 years ago the supranational currency developed by pseudonymous Satoshi Nakamoto, Bitcoin, started to receive higher global interest, gathering enthusiasts and attracting investors that were akin to the vision expressed in Bitcoin’s whitepaper, and was passionately discussed on <em>bitcoinforum.org</em>.</p> 
 <p class="paragraph">The “King Dollar” was overthrown by the new ‘king’ currency in the world. Not constrained by borders, and backed by open-source code in a decentralized network, instead of by decree.</p> 
 <p class="paragraph">Interestingly, the US Dollar lost 99.51% of its value against Bitcoin from September 2013 to current prices on September 29, 2023.</p> 
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  <img decoding="async" loading="lazy" width="1024" height="662" src="https://cdn.thebittimes.com/images/2023/09/29/9c772a1a7a50564a86414b6428432b3c.webp" alt="Bitcoin versus Dollar: BTCUSD historical price chart. " class="wp-image-130560" srcset="https://cdn.thebittimes.com/images/2023/09/29/9c772a1a7a50564a86414b6428432b3c.webp 1024w, https://cdn.thebittimes.com/images/2023/09/29/9c772a1a7a50564a86414b6428432b3c.webp 300w, https://cdn.thebittimes.com/images/2023/09/29/9c772a1a7a50564a86414b6428432b3c.webp 768w, https://cdn.thebittimes.com/images/2023/09/29/9c772a1a7a50564a86414b6428432b3c.webp 1536w, https://cdn.thebittimes.com/images/2023/09/29/9c772a1a7a50564a86414b6428432b3c.webp 1875w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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    BTCUSD historical price chart. Source: <em>TradingView</em> 
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 <p class="paragraph">These losses are even higher than what the second worst fiat currency performer got against the US Dollar, according to Bilello’s chart. Which intensifies all the purchasing power lost by most of the national fiat <a rel="noopener noreferrer nofollow" title="currencies" href="https://thebittimes.com/tag/currencies.html">currencies</a> in the world against the leading cryptocurrency: BTC.</p> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/us-dollar-outperforms-g20-fiat-currencies-what-about-bitcoin-tbt64515.html">https://thebittimes.com/us-dollar-outperforms-g20-fiat-currencies-what-about-bitcoin-tbt64515.html</a></p>

US dollar outperforms G20 fiat currencies; What about Bitcoin?

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