By CCN.com: The mighty US dollar appears to be one of the world’s safest currencies. This sense of security has blinded many from seeing that the greenback has lost tremendous value over the past 100 years, a fact that should send investors piling into a surging Bitcoin.
In the early 1900s, a dollar could get you a nice pair of patent leather shoes. The currency had so much value back then because there was only $7 billion in circulation. A hundred and twelve years later (2012), the U.S. money supply swelled to $13.3 trillion, and a dollar can fetch you one song from iTunes.
With an overabundance of dollars in circulation, it is not surprising that its purchasing power has diminished considerably over time. According to Merk Investments, the greenback has shed over 95% of its value since the establishment of the Federal Reserve in 1913.
Applying technical analysis, the currency is not showing signs of a trend reversal. If this is was a chart of a bearish cryptocurrency, you’d likely stay as far away from it as possible for fear that it might go to zero.
Speaking of cryptocurrency, there’s one that offers superior returns over time.
Warren Buffett sees Bitcoin as rat poison, and so does the mass media establishment. Such criticism is unwarranted considering that the cryptocurrency is in a strong and long-term uptrend.
Chew on this: Bitcoin was valued at $0.07 on August 16, 2010. Fast-forward to today, and it is trading near $6,000. That’s a mind-boggling return of over 8.5 million percent in less than a decade. No other asset or currency generated similar returns in the same period.
It doesn’t stop there. While Bitcoin plummets between 70 percent and 93 percent in a bear market, the king of cryptocurrencies roars back in every subsequent bull market to generate mouth-watering returns between 5,343 percent and 59,100 percent. If this trend continues, Fundstrat sees Bitcoin trading at $91,000 by 2020.
Looking at this chart, it is a no-brainer to trade your plunging US dollars for a surging cryptocurrency in Bitcoin. It not only shields you from the inflationary property of the greenback, but it also rewards you with staggering returns over time.
Mass media has demonized Bitcoin when in reality, investors enjoy massive gains as the cryptocurrency remains in a long-term uptrend. On the contrary, the US dollar has lost more than 95% of its value in the past century.
With these figures, it absolutely makes sense to dump your greenbacks in favor of “rat poison.”
This article was edited by Josiah Wilmoth for CCN.com. If you see a breach of our Code of Ethics or Rights and Duties of the Editor, or find a factual, spelling, or grammar error, please contact us and we will look at it as soon as possible.
Last modified: July 2, 2020 8:10 PM UTC