Yes, BTC has fallen around 40% from its all time high. But do you know what else has fallen even further? The US Dollar!
Since 1980, the purchasing power of $1 USD has fallen by 74.55% Yet unlike BTC, there is never a new ATH, never a time in the future where $1 USD will buy you more than it did 4 years prior.
To anyone who thinks BTC is “dead” because of a temporary fall in value, ask yourself this, what is endless quantitative easing and money printing doing to the value of your fiat money?
There is a fixed 21 million BTC cap, there will never be a cap on how many dollars are in circulation…
Posted by Ominous_Nahkriin
9 Comments
Btc is dead in a sense that it is supposed to be a hedge against weak dollars and inflation. So far it has been polar opposite and trades just like a jackass tech stock
Wise words but very difficult to fathom for anyone who isn’t from finance.
Stop drinking the kool aid. It’s over
If the US dollar fell and all things were equal the bitcoin should go up in value
From everything that I’ve read in the past 2 years on here Bitcoin should be going up as a hedge against the dollar devaluing but it’s not acting like that and people are putting their money elsewhere.
In my mind that really speaks against the use case argument for the currency. I’m not a financial adviser though and I’m not very bullish on bitcoin so take with that as you will.
So why isn’t bitcoins going up? It’s a hedge against usd and government printing
But but tariffs will pay off the debt
If Bitcoin inversed the dollars value no one would own it. If it went up 70 percent in fifty years would you buy it
If bitcoin collapsed if would have close to zero impact on the global economy and zero impact on almost everyone on the planet.
If the USD collapsed the global economy would be nearly destroyed.
One of these instruments is backed by real assets (even if those assets are mostly goodwill/printed) and the other is a digital blockchain which can be easily replicated or legislated away.
A 40% fall in one is almost meaningless yes.