Worlds Oldest Fiat Lost 99.5% Value while Currencies & Bitcoin Inv. of Emerging Markets Surging

bitcoinWorlds Oldest Fiat Lost 99.5% Value while Currencies & Bitcoin Inv. of Emerging Markets Surging

While the worlds oldest fiat currency British Pound has lost over 99% of its value, the currencies of emerging markets are on an ascend along with interest and investment in Bitcoin and cryptocurrencies.

British pound, the oldest getting dumped

If we take a look at the worlds oldest fiat currency, it is British pound. This currency has lost not just a majority of its value but almost all of its value as put by the co-founder of InterchangeHQ and former Global Data/Rider Growth at Uber, Dan Hedl on Twitter:

As shown in the chart below, the situation over the years for this currency has been depreciating:

British Pound

Meanwhile US Dollar:

US Dollar

On the other side, starting in 2009, Bitcoin, the leading cryptocurrency is currently down 67% from its all-time high (ATH) of December, 2017 at about $20,000. However, the tech market always works at a rapid pace and crypto market even more so.

The gains are quick to come and quick to lose but the market lacks any regulatory and worldwide recognition per se along with being in a nascent stage, so it has a really long way to go.

BitcoinEmerging markets currencies on rise

Meanwhile, if we take a look at the emerging markets currencies that are also increasingly getting interested in the crypto market, the situation is a lot different.

Russian Ruble:

Russian Ruble

Brazilian Peso:

Brazilian Peso

Mexican Peso:

Mexican Peso

Turkish Lira:

Turkish Lira

Indian Rupee:

Indian Rupee

Chinese Yuan:

Chinese Yuan

As shared by Fundstrat Global Advisors Thomas Lee last month, there is an important correlation between bitcoin and emerging markets.

These emerging markets are slowly but surely moving towards Bitcoin and cryptocu ...

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Tags: Emerging markets, Currency, Bitcoin, Pound sterling