Despite going through one of the worst inflations of all time, the US Dollar (USD) has outperformed 115 global fiat currencies in the last 10 years in the forex market but got massively outperformed by Bitcoin (BTC).
Notably, 33 out of the 115 currencies have lost over half (50%) of their value against “King Dollar”, in the words of Charlie Bilello, the Chief Market Strategist at Creative Planning who shared this data on September 28, collated from xe.com one day before.
King Dollar pic.twitter.com/rJjG9NCMTg
— Charlie Bilello (@charliebilello) September 28, 2023Among the five worst performers, which lost over 92% of their purchasing power related to the USD, two of them belong to the G20 countries. The Argentine Peso (ARS) lost 98.3% against the dollar, while the Turkish Lira (TRY) lost 92.6%.
BTCUSD historical price chart. Source: TradingView
These losses are even higher than what the second worst fiat currency performer got against the US Dollar, according to Bilello’s chart. Which intensifies all the purchasing power lost by most of the national fiat currencies in the world against the leading cryptocurrency: BTC.
