Bitcoin

Bitcoin dominates US dollar: USD loses 99% in value since 2013

Pay with Bitcoin? US Dollar, Bitcoin and Yuan: three global currencies

Bitcoin has marked a new all-time high this year. The year 2020 proved to be the driver for the BTC price and the combination of all external factors such as U.S. monetary policy, rising budget debts and global uncertainty caused by Covid-19 led to a real boom in demand for the number one crypto currency.

Edward Snowden, probably the most famous whistleblower in history, talked about the Bitcoin/US dollar trading pair in a recent tweet. In doing so, Snowden showed that the leading currency of the 21st century is experiencing a massive loss against Bitcoin.

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Bitcoin and US Dollar: BTC shows strength

The Bitcoin software has been live since January 3, 2009 and thus this day counts as the birth of BTC.

The motivation of Edward Snowden to leave his previous life behind and thus to bear enormous psychological and financial consequences was probably to enlighten people.

To educate people about a policy of information procurement that knows no privacy, but only national interest.

And out of this motivation, Edward Snowden is also a proponent of Bitcoin. Because the crypto-currency, which was designed by Satoshi Nakamoto as an answer to the financial and banking crisis of 2007/2008, is a digital concept of money that gets by without governments.

Bitcoin (BTC) is thus the answer to economic repression policies, which can be based on the strength of the dollar.

And so Snowden posted a tweet on Twitter on December 7 about the dollar value in BTC.

According to this tweet, the US dollar has lost more than 99% of its value in relation to Bitcoin since 2013. In other words, the dollar has lost more than 99% of its value since 2013: Bitcoin has risen massively against the US dollar.

Trading pair USD/BTC instead of BTC/USD

The US dollar is without doubt the dominatrix

No matter if Forex market, bond market, stocks or commodities: all trading pairs are measured in dollars.

Now we also measure the value of Bitcoin in BTC. However, if you turn the trading pair around and look at the USD/BTC chart, we see exactly the scenario that Snowden described in the chart above.

Bitcoin BTC USD Price

The US dollar, measured in BTC, has fallen by more than 99%.

It should be noted that Bitcoin is benefiting from its deflationary concept and falling inflation rate. While the total supply is limited and the new quantity is decreasing over time, the demand for the scarce digital good has increased massively.

During the same period, the US dollar quantity increased by a much stronger factor.