Bitcoin outshines oil on increase in value since 2010

Quick Take

• At roughly 4% inflation per year, you will lose 50% of your net worth in roughly 16 years, according to inflationchart.com.
• A better measurement would be oil, a commodity similar to Bitcoin. A lot of energy and time is needed to extract oil as opposed to a fiat currency,
• Looking at this chart, 306 barrels of oil are currently equivalent to one Bitcoin, which continues to make higher highs.
• This shows the true value of Bitcoin increasing, up 22,000% against oil, since 2010.
• As we move into an inflationary environment, it may be better to denominate Bitcoin as a commodity rather than the USD.
• Due to the currency's volatility and inflationary nature, it may not be the best medium to denominate Bitcoin value moving forward.

Analyst View profile →

James Van Straten

Former Lead Analyst • CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

@jvs_btc LinkedIn

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