The Bitcoin “Smile”: Bitcoin Continues Surging As US Dollar Continues Devaluation of Consumer Purchasing Power

This is a syndicated repost courtesy of Snake Hole Lounge. To view original, click here. Reposted with permission.

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The Federal Reserve was created by an act of Congress in 1913 and a stroke of the pen by President Woodrow Wilson. And the purchasing power of US consumers has never been the same.

Enter Bitcoin, the worldwide cryptocurrency and digital payment system. Currently, 1 Bitcoin equals $4,396.00.

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While this looks like a volatility smile, it is not. It does show the erosion of the purchasing power of the US Dollar and the rise of an alternative currency: the  cryptodollar.

Hey, although he signed The Federal Reserve into existance, at least he could pitch!

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