Is Bitcoin Set To Revolutionize The Financial World With Its Superior Purchasing Power?
Bitcoin, the digital currency that emerged just over a decade ago, has been gaining traction and popularity as a potential game changer in the financial world.
With its superior purchasing power, some experts believe that Bitcoin could reshape the global economy and even challenge the US dollar’s dominance as the world’s standard currency.
The world economy has been dominated by the US dollar for decades, but can Bitcoin challenge its reign?
Bitcoin Vs. The US Dollar: A Tale of Two Purchasing Powers
In the world of finance, there is a new competitor on the rise – Bitcoin. According to a recent macro compare charactert shared by financial analyst Seth, Bitcoin’s purchasing power has skyrocketed since 2010. This is in stark contrast to the US dollar’s purchasing power, which has steadily declined over the years.
🌱🌱🌱🌱🌱#Bitcoin
Purchasing Power of the US Dollar Compared to Bitcoin!
Purchasing power determines how many products you can buy with dollars!While FIAT loses PP! #BTC Win PP!
This is the zoomed-out macro chart you need to keep in mind!$BTC pic.twitter.com/W8upXq8GPm
— Seth (@seth_fin) April 4, 2023
The ramifications of this trend could be important, with the potential to reshape our perceptions of money and the entire financial system as we know it. In fact, prominent figures like Robert Kiyosaki, author of the personal finance bestseller Rich Dad Poor Dad, have already recognized this shift.
Kiyosaki, known for his financial acumen, has expressed skepticism about the future of the US dollar and has advised his followers to invest in Bitcoin, gold and silver. He went so far as to describe US fiat currency as “fake money”, emphasizing the urgency of taking action and protecting one’s assets.
A new era of purchasing power dynamics
As Seth’s chart reveals, the dollar’s purchasing power has been on a steady decline for over half a century, with a sharp drop from 300 to the current 33.2 points. This is in stark contrast to the impressive rise in Bitcoin’s purchasing power in the same context, which skyrocketed from 33 in 2010 to the current 255 points. That’s a staggering 672.73% increase in just 13 years.
BTC total market cap now at $539 billion on the daily chart at TradingView.com
As the world watches this historic shift in purchasing power, it is clear that Bitcoin has emerged as a formidable competitor in the financial world. While the implications of this trend are not yet fully understood, it is becoming increasingly apparent that the traditional financial system may no longer be able to keep pace with technological innovation.
As we navigate this new era of finance, it’s up to each of us to decide how we adapt and thrive in the face of change.
-Featured image from WheNews