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Bitcoin Outperforms Everyone – Media Praise BTC Compared to Other Currencies

 


While the strong US dollar is currently putting massive pressure on the stock market, commodity market and foreign currency market, Bitcoin ( BTC ) is able to hold its ground at 19,000 - 20,000 US dollars, which is why the media cannot avoid talking about the market-leading cryptocurrency.


The New York Times points out, among other things, that the Bitcoin price has increased by almost 6.5% in the last seven days despite these circumstances. Fortune Magazine , meanwhile, notes that BTC is significantly stronger against other currencies like the Japanese yen, Chinese yuan and gold in the current environment, not to mention the weak British pound and euro.


Fiat currencies like the euro and pound have been struggling to keep up against the US dollar (USD) lately, which is why business journalists are all the more impressed that Bitcoin is the only one holding up relatively well.


The news portal Provocative even rhetorically asks in a headline whether it is "time to bet everything on Bitcoin". Although this question is resolved as sarcasm in the accompanying article, the author nevertheless emphasizes that many institutional investors are willing to put an end to the crypto winter in view of these developments.


Australian news site news.com.au, in turn, compiles expert opinions that speak positively about bitcoin and blockchain, including new predictions that the bitcoin price is about to hit a new record high of $100,000.


The British pound, meanwhile, has fallen to record lows against the US dollar. One of the reasons why Bitcoin is doing so much better right now is likely the crypto market leader's significantly slower rate of increase in circulation. According to Porkopolis Economics, sterling has grown 11.2% annually since 1970, while BTC's available supply is only increasing 1.7% annually. The existing supply is therefore smaller and is increasing less quickly, which has a positive effect on pricing.

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