The U.S. dollar (USD) is reportedly one of the strongest fiat currencies in a long time. In the last decade, the USD outperformed 115 national currencies, of which 17 are from G20’s member countries. However, the United States legal tender was strongly outperformed by Bitcoin (BTC) in the same 10-year period.
Data retrieved by Finbold from Bitstamp’s BTC/USD price chart on TradingView shows that even the fiat currency from one of the most wealthy countries of all time has not been able to keep its value against the leading cryptocurrency by market capitalization.
From September 30, 2013, to the same day 10 years later in 2023, the U.S. Dollar lost 99.52% of its value against Bitcoin. Interestingly, it also represents a price appreciation superior to 22,000% for BTC against the USD.
Notably, the Chinese central bank began to crack down on Bitcoin in late 2013, prohibiting local financial institutions from handling BTC transactions. It was also the year when some renowned indexes like CoinGecko and CoinMarketCap started tracking the cryptocurrency’s price.
Bitcoin’s value versus other fiat currencies
If Bitcoin was able to outperform the United States dollar by almost the entirety of its purchasing power in the last 10 years, BTC proved to be an even stronger currency choice versus other fiat currencies that accumulated massive losses against the USD.
Charlie Bilello, Chief Market Strategist at Creative Planning, shared an updated chart on September 28 with 115 fiat currencies that lost their value against the U.S. dollar in a 10-year time frame.
King Dollar https://twitter.com/charliebilello/status/1707481956663832848/photo/1
— Charlie Bilello (@charliebilello) September 28, 2023
Interestingly, even the second-worst performer, the Sudanese Pound (SDG), has lost less of its purchasing power against the dollar, than the dollar itself against Bitcoin.
Recently, Finbold reported how Bitcoin has performed against the Indian Rupee (INR) and the Pakistani Rupee (PKR) in 2023. Despite not having a 10-year track record of BTC versus INR or PKR, considering they lost 24.7% and 63.6% against the dollar, it is correct to conclude that their decade losses against Bitcoin were, respectively, 99.63% and 99.82%.
