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Quick Take
- At roughly 4% inflation per year, you will lose 50% of your net worth in roughly 16 years, according to inflationchart.com.
- A better measurement would be oil, a commodity similar to Bitcoin. A lot of energy and time is needed to extract oil as opposed to a fiat currency,
- Looking at this chart, 306 barrels of oil are currently equivalent to one Bitcoin, which continues to make higher highs.
- This shows the true value of Bitcoin increasing, up 22,000% against oil, since 2010.
- As we move into an inflationary environment, it may be better to denominate Bitcoin as a commodity rather than the USD.
- Due to the currency’s volatility and inflationary nature, it may not be the best medium to denominate Bitcoin value moving forward.
BTC/Oil: (Source: inflationchart.com)
The post Bitcoin outshines oil on increase in value since 2010 appeared first on CryptoSlate.
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The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.