In the past eight years, since 2011, the price of the world’s largest cryptocurrency, Bitcoin (BTC) has increased in value by almost 170,000 percent, as a direct result of this the United States Dollar has lost 99.99 percent of its value when shaped up against the digital currency.
This has been seen before in history.
Take for example the German Papiermark and the Goldmark during World War 1 and the 1920’s hyperinflation.
At the beginning of 1918, one Papiermark was roughly equal to one Goldmark. However, by the year 1923, one Goldmark was worth one trillion Papiermarks.
We are now at the point in where we are living and witnessing World Financial History, with analysts arguing that Bitcoin’s recognisability and market cap will give it a strong and key position in the future world economy.
Currently, at time of press, the price of Bitcoin is $8,674.52 +1.00%.