The illusion of the U.S. Dollar’s intrepid strength is a false indicator that the American media has been trumpeting since late 2013. It is an indication of its value relative to other fiat currencies like the Euro and Japanese Yen. Kind of like a battle for which debt-based bearer bond is the best at losing value the slowest. Well, CNBC has published an admission piece on how Bitcoin’s dollar price shames the world’s reserve currency in a battle of relative strength for 2015.
Eric Rosenbaum’s article has an odd post-mortum twinge to it, starting off with “The U.S. dollar has had a nice run.” Plenty were saying that about Bitcoin’s value at the end of 2013, no? Even so, U.S. Dollar index value has risen almost 10%, which sounds impressive enough. Yet, Bitcoin over the same period is up over 40%, which is somewhat misleading, at that. Bitcoin value hadn’t finished recovering from the Mt. God bubble/collapse, and dropped to under $180 in midJanuary, from over $300 USD at the start of the year. Bitcoin is up well over 100% since its darkest days, which is not mentioned in the piece.
Remember the midstream refrain from this time last year? BTC and