Market rout sees US Dollar drop to record low against the bitcoin

USD[1]

The US Dollar can’t be backed up and is susceptible to fire attacks and counterfeiting, making it a risky choice for investment.

Last Thursday saw the USD lead on losses all across the currency market, dropping to as low as 0.003BTC before recovering to about 0.006BTC in the afternoon.

The greenback has been struggling over the past year, touching lows of 0.03BTC before trading again at roughly parity with the bitcoin for the rest of 2012. However, 2013 has seen it steadily drop in value before being seemingly abandoned altogether as investors flocked back to the bitcoin, whose immunity from government intervention has proven seductive, even in light of the cryptocurrency being susceptible to hackers and technological illiteracy.

Analysts have blamed the plunge on a multitude of factors including the Fed’s decision to keep printing money to provide enough toilet paper to wipe the massive skid mark bankers left on the economy in 2008.

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One thought on “Market rout sees US Dollar drop to record low against the bitcoin

  1. A different twist on the news

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