Since its inception, Bitcoin (BTC) has attracted a growing number of investors who see the flagship digital currency as a hedge against inflation.
As of Tuesday, February 15, 2022, the United States Dollar (USD) has lost up to 97.58% of its buying power relative to Bitcoin in the last five years. Thus, when comparing the value of one dollar to Bitcoin, 1 USD is now worth just 0.000023 BTC.
Purchases of satoshis show that the US dollar’s value has fallen as a consequence of the government’s continuous money printing.
Particularly, the function of Bitcoin as a viable alternative to the dollar has been put to the test, but the fact remains that inflation has already reduced the value of the United States dollar by 85% over the last 50 years.
In contrast, Bitcoin’s value has stayed relatively high, although making it difficult for the typical investor to acquire a single unit of the cryptocurrency; as a result, most investors choose to purchase fractional shares of the world’s most valuable digital asset.
$1 buys 75% less satoshis than 2 years ago
Accordingly, as the dollar’s buying power has weakened, the quantity of satoshis that can be bought with the US dollar has continued to decline, in contrast to the rise in the value of Bitcoin.
It is worth noting that according to a recent Finbold report, between February 1, 2020, and February 1, 2022, the number of satoshis that could be purchased with one US dollar dropped from 10,656 to 2,638, a fall of 75.24%.
This figure is obtained by multiplying the price of Bitcoin in dollars by 100,000,000, which is the value of satoshis in Bitcoin.
Despite periods of significant market volatility, the decline in the number of satoshis that a dollar can purchase has been associated with Bitcoin’s over 300% price increase over the previous two years.
Bitcoin price analysis
Currently, BTC is trading at $43,861, up 3.With a total market worth of $831.5 billion, Bitcoin has a total of 42.3% dominance of the entire crypto market.
Please Read Essential Disclaimer Information Here.
© 2024 Crypto Caster provides information. CryptoCaster.world does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.
Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
MATIC – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
LITECOIN – ltc1qxsgp5fykl0007hnwgl93zr9vngwd2jxwlddvqt
Support CryptoCaster with any amount of Bitcoin by copying and pasting our Unstoppable Domain; villagewest.crypto in your sending wallet or crypto coin exchange.
Your contribution support will help in our growth, coverage, and global presence. CryptoCaster is a decentralized publisher “Covering a Global Evolution Re-defining Mediums Of Exchange”. We will continue to upgrade and create impactful sections to our lineup.
Any amount, as often as you can contribute will be greatly appreciated.
Every contribution, however big or small, is so valuable for our future. Thank you for your consideration and support!
Member of Global Meta Media Consortium℠ – www.g2mc.world
