The US Dollar Outperforms G20 Currencies: What About Bitcoin?

• The US Dollar (USD) has outperformed 115 global fiat currencies in the foreign exchange market over the past decade, but it has been significantly outpaced by Bitcoin (BTC).
• Among the five worst-performing currencies, two belong to G20 countries, and both have lost 92% of their purchasing power compared to the USD.
• While 17 of the G20 members were outperformed by the United States, the Swiss franc (CHF) was the least affected of the losers, with the fiat currency losing slightly 1.6% over the decade.

Despite experiencing one of the worst inflations of all time, the US dollar remains very strong: Bitcoin has managed to dethrone the US dollar!

The US Dollar Outperforms Other Currencies

Despite experiencing one of the worst inflations of all time, the US Dollar (USD) has outperformed 115 global fiat currencies in the foreign exchange market over the past decade, but it has been significantly outpaced by Bitcoin (BTC).

In particular, 33 out of the 115 currencies have lost more than half (50%) of their value against the “King Dollar,” as described by Charlie Bilello, Chief Strategist at Creative Planning, who shared this data on September 28th.

Among the five worst-performing currencies, two belong to G20 countries, and both have lost 92% of their purchasing power compared to the USD. The Argentine Peso (ARS) lost 98.3% against the dollar, and the Turkish Lira (TRY) lost 92.6%.

The Venezuelan Bolívar (VEF) lost 99.9998%. The Sudanese Pound (SDG) and the Syrian Pound (SYP) were both just 100 basis points away from losing everything, with 99.3% and 99.1% 10-year price performances, respectively.

Out of the G20 members, 17 of them have underperformed against the US, with the Swiss Franc (CHF) being the least affected fiat currency, losing only 1.6% over the past decade, while the Belize Dollar (BZD) followed with a 1.9% loss.

Bitcoin Dethrones the ‘King Dollar’ of the G20

However, over the past decade, Bitcoin, the supranational currency developed under the pseudonym Satoshi Nakamoto, started gaining more global attention, amassing enthusiasts, attracting like-minded investors who shared the vision articulated in Bitcoin’s whitepaper, and fervently discussing it on bitcoinforum.org.

The ‘King Dollar’ was dethroned by the new world ‘king’ currency—a currency supported by a borderless and decentralized network with open-source code, not by decree.

Interestingly, the US Dollar has lost 99.51% of its value against Bitcoin from September 2013 to September 29, 2023.