It has been said that the U.S. dollar (USD) is one of the most stable fiat currencies in recent memory.
During the previous decade, the USD gained value relative to 115 other currencies, including 17 from G20 nations. Bitcoin (BTC) has significantly surpassed the legal money in the United States during the last decade.
According to information gathered by Finbold from Bitstamp’s BTC/USD price chart on TradingView, not even the fiat currency of one of the world’s wealthiest nations has been able to maintain its worth against the most valuable cryptocurrency.
The US dollar lost 99.52 percent of its value versus Bitcoin from September 30, 2013, and the same day in 2023. Interestingly, it also reflects a BTC/USD price rise of more than 22,000%.
Notably, in late 2013, the Chinese central bank started cracking down on Bitcoin, making it illegal for local financial institutions to handle Bitcoin transactions. In addition, this is the first full year that the cryptocurrency’s value has been tracked by major indexes like CoinGecko and CoinMarketCap.
As Bitcoin’s value has increased relative to the US dollar over the last decade, other fiat currencies have depreciated dramatically against the greenback, making Bitcoin an even more attractive currency option.
The Chief Market Strategist at Creative Planning, Charlie Bilello, updated a graphic on September 28 showing 115 fiat currencies that have depreciated against the U.S. dollar during the previous decade.
Contrary to popular belief, the Sudanese Pound (SDG) has lost less value versus the dollar than the dollar has against Bitcoin.
In a recent research, Finbold detailed Bitcoin’s 2023 performance vs the INR and PKR. Although we do not have a 10-year history of BTC vs INR or PKR, we can reasonably infer that they lost 99.63% and 99.82% against Bitcoin given their respective 24.7% and 63.6% losses against the dollar.