Michael Saylor on the efficiency of Fiat’s main currencies more than the previous yr

On Monday, September 26, Michael Saylor, co-founder and executive chairman of enterprise intelligence program corporation MicroStrategy Inc. (NASDAQ: MSTR), commented on the efficiency of numerous main fiat currencies more than the previous yr.

Recall that on August eleven, 2020, MicroStrategy announced by means of a Press Release that he had “purchased 21,454 bitcoins for a total purchase price of $250 million” to use as “the primary reserve asset of the Treasury.”

Saylor mentioned at the time:

“Our decision to invest in Bitcoin at this time is partly driven by a combination of macro factors affecting the economic and business landscape that we believe create long-term risk. for our corporate treasury program – risks that need to be addressed proactively.“

Since then, MicroStrategy has continued to hoard Bitcoin, and its former CEO has develop into 1 of Bitcoin’s strongest advocates. MicroStrategy’s most recent $BTC order, which Saylor tweeted on September twenty, signifies that the corporation now owns about 130,000 bitcoins, which had been “acquired for about $three.98 billion at an regular cost of somewhere around $three.98 billion. $thirty,639 in bitcoin.”

Wikipedia says the US Dollar Index (DXY) – created, maintained and published by ICE (Intercontinental Exchange, Inc.) – is an index (or measure) of the worth of the US Dollar towards a basket of currency. These other currencies are EUR, GBP, JPY, CAD, SEK and CHF.

According to information from MarketWatch, more than the previous 7-day time period, the DXY rose from 110.twenty to 113.84, an improve of three.three%. On September 25, DXY hit 114.51, the highest degree considering that April 2002.

The factors for the regular rise in DXY during this yr are the Federal Reserve’s hawkish stance on US inflation, escalating geopolitical tensions main to a huge improve in vitality charges across the globe. planet and the battle towards COVID-19 is taking location in some elements of the planet (this kind of as China).

On September 21, at the press conference right after the conclusion of the two-day FOMC meeting, the Fed announced it would increase the federal money price by .75% and Fed Chairman Jerome Powell have this to say at the press conference:

“My colleagues and I are firmly committed to bringing inflation back to our 2% target… At today’s meeting, the Committee raised the target range for the federal funds rate by three-quarters of a percentage point. percent, bringing the target range from 3 to 3-1/4%… As presented by the SEP, the median forecast for lending rates is 4.4% by the end of the year, or higher. 1 percentage point more than expected in June. The median forecast rises to 4.6% by the end of next year and declines to 2.9% by the end of 2025, still well above the median estimate of its long-term value.“

Anyway, yesterday Saylor had this to say about the collapse of ten international currencies towards the dollar in the previous yr and the fall of the dollar towards bitcoin more than the previous 4 many years:

Monday (September 26), whilst The Guardian reportThe pound sterling (GBP) “at one point fell nearly 5% to $1.0327, its lowest level since Britain switched to decimal in 1971, driven by confidence in the UK’s economic and wealth management.” Great Britain has evaporated”.

This prompted Angela Rayner, Deputy Leader of the United kingdom Labor Party to tweet:

Gabor Gurbacs, founder of PointsVille and strategic advisor to VanEck’s subsidiary MarketVector Indexes, believes that the collapse of the pound could lead to far more adoption of Bitcoin in the United kingdom:

Former Blockstream CSO (and JAN3 founder) Samson Mow would like central banking institutions to think about adopting a Bitcoin regular:

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