Sunday, February 28, 2021
Only Bitcoin Market News
Advertisement
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • investors
  • Technical
  • Crash
  • spam
  • stock
  • Blockchain
  • Videos
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • investors
  • Technical
  • Crash
  • spam
  • stock
  • Blockchain
  • Videos
Only Bitcoin Market News
No Result
View All Result

How to Protect Yourself From the Crashing Dollar with Bitcoin

2 weeks ago
in Crash
4 min read
How to Protect Yourself From the Crashing Dollar with Bitcoin
Share on FacebookShare on Twitter


Certificates of deposit (CDs) are accounts you can invest in at the bank.

If you agree to lock up your money for a certain number of months, you collect a bit more interest than a savings account.

In the past, they were a way to earn a decent return on your savings. Not amazing, but decent.

In the 1980s, you could collect a 10%-plus yield on CDs. However, over the years, they have become less attractive:

Historical CD Interest Rates

historical cd interest rates

(Source: BankRate.com.)

Today, the highest rate on a one-year CD at BankRate.com is 0.67%.

Yet the consumer price index is 1.4%. That is the rate at which the cost of consumer goods and services is rising.

That means if you lock up your money in the bank for a year at the highest CD rate in the country, you will lose value.

There are better options.

Look to History for Guidance

If you are reading this essay, there is a solid chance you already own some stocks. That has probably worked out well for you since last March.

But what else could you own to protect yourself?

Low CD rates are a result of the low Fed funds rate. The low rate has also reduced demand for the dollar.

There are a lot of dollars out there. The government continues to print them like drunken sailors.

The government is spending more than it’s bringing in … and debt is rising like crazy.

In a world with a struggling dollar, you need to work harder to maintain your purchasing power. One asset that helps you do this is gold:

gold vs. us debt 1966-2020

(Source: Bloomberg, Federal Reserve Bank of St. Louis.)

Gold is a place to go to protect the value of the dollars in your wallet.

It has served as a protector of value for thousands of years.

I expect it will continue to do so.

The New Gold?

But what about bitcoin?

It has the nickname, “digital gold.”

How has it fared compared to our ever-growing debt?

It has done well … very well:

bitcoin vs. us debt 2010-2020

(Source: Bloomberg.)

Since Bloomberg began reporting bitcoin prices in July 2010, total debt has more than doubled.

Bitcoin traded for $0.08 on its first day of trading.

It was about $48,000 per coin on Thursday morning.

Let that sink in.

It has risen by 600,000 times.

It has been an amazing protector against dollar weakness.

No, most of us didn’t buy bitcoin when it traded for less than a dollar. And you may not want to buy at its current level.

But you can see it has been super volatile. You’ll have chances to buy at a better price.

At one point, it fell from $18,600 to about $3,200 per coin … in a year!

From July 2019 to March 2020, it fell from $12,700 to $4,900.

Less than a month ago, it fell from $40,000 to $31,000 in 13 days.

And its past suggests it’ll fall again.

Plus, I generally do not look to buy things after they rise 10 times in 11 months. Call me old-fashioned.

I like to wait for a pullback for a decent-sized purchase. But you can dip your toe in the water if you haven’t already.

Make sure you have an account set up. Fund it. Have the money available when you are ready to buy.

Educate yourself. Read more about…



Read more:How to Protect Yourself From the Crashing Dollar with Bitcoin

Related articles

Bitcoin Suffers Worst Weekly Crash

Bitcoin Suffers Worst Weekly Crash

February 27, 2021
Beyond Meat could be the “preferred” patty supplier at McDonald’s

Beyond Meat could be the “preferred” patty supplier at McDonald’s

February 27, 2021
Tags: Bitcoinbitcoin news todaycrashingDollarprotect

Related Posts

Bitcoin Suffers Worst Weekly Crash

Bitcoin Suffers Worst Weekly Crash

by Bitcoin Market
February 27, 2021
0

Bitcoin Suffers Worst Weekly Crash Taarifa Rwanda Read more:Bitcoin Suffers Worst Weekly Crash

Beyond Meat could be the “preferred” patty supplier at McDonald’s

Beyond Meat could be the “preferred” patty supplier at McDonald’s

by Bitcoin Market
February 27, 2021
0

Folks, it's finally happening. After months of blowing hot and cold, Beyond Meat is officially entering a multi-year deal...

Bitcoin’s role in retirement portfolios

Bitcoin’s role in retirement portfolios

by Bitcoin Market
February 26, 2021
0

What role should Bitcoin play in retirees’ and near-retirees’ portfolios? There is no doubt that its allure is overwhelming....

The Mac price crash of 2021 | ZDNet

The Mac price crash of 2021 | ZDNet

by Bitcoin Market
February 26, 2021
0

The impressive performance and battery life gains of the new M1 MacBooks have created a historic discontinuity in the...

Crypto-investor criticises transparency of Gold Coast digital currency

Crypto-investor criticises transparency of Gold Coast digital currency

by Bitcoin Market
February 25, 2021
0

The Gold Coast cryptocurrency Qoin has rejected concerns raised about its transparency after it was expelled from the peak...

Load More

Trend Now

  • Trending
  • Comments
  • Latest
Crypto-Powered Social Media Platform Voice Planning Launch for July 4 | CryptoGlobe

Crypto-Powered Social Media Platform Voice Planning Launch for July 4 | CryptoGlobe

June 8, 2020
J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

May 19, 2020
Argo Blockchain boosts mining margins in July

Argo Blockchain boosts mining margins in July

August 5, 2020
Institutional investors see Bitcoin holding US$50,000 suggests ETP provider

Institutional investors see Bitcoin holding US$50,000 suggests ETP provider

February 18, 2021
Bitcoin boom backstopped by central banks’ easy-money policies

Bitcoin boom backstopped by central banks’ easy-money policies

February 4, 2021
5 Cryptocurrency Staking Providers – A Review | Hacker Noon

5 Cryptocurrency Staking Providers – A Review | Hacker Noon

January 30, 2021
Argo Blockchain reports higher revenues and margins in August amid strong Bitcoin

Argo Blockchain reports higher revenues and margins in August amid strong Bitcoin

0
Bitcoin daily chart alert – Bullish chart pattern develops – May 19

Bitcoin daily chart alert – Bullish chart pattern develops – May 19

0
Calvin Ayre Invests in True Reviews: A New Take on Consumer Review Sites Built on the

Calvin Ayre Invests in True Reviews: A New Take on Consumer Review Sites Built on the

0
J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

0
Crypto.com’s MCO Visa Cards Are Now Shipping In Europe – Fintech Singapore

Crypto.com’s MCO Visa Cards Are Now Shipping In Europe – Fintech Singapore

0
Elon Musk tried to explain Bitcoin to JK Rowling on Twitter and this happened

Elon Musk tried to explain Bitcoin to JK Rowling on Twitter and this happened

0
Argo Blockchain reports higher revenues and margins in August amid strong Bitcoin

Argo Blockchain reports higher revenues and margins in August amid strong Bitcoin

February 28, 2021
5 Reasons Bitcoin Is Superior to Gold

5 Reasons Bitcoin Is Superior to Gold

February 28, 2021
Grayscale’s Ethereum Trust Premium Follows Bitcoin Sibling Into Flipping Negative

Grayscale’s Ethereum Trust Premium Follows Bitcoin Sibling Into Flipping Negative

February 28, 2021
The $282 Million Awakenings: 120 Bitcoin Block Rewards from 2010 and 2011 Woke Up

The $282 Million Awakenings: 120 Bitcoin Block Rewards from 2010 and 2011 Woke Up

February 28, 2021
Bitcoin buyers punished by surging bond yields

Bitcoin buyers punished by surging bond yields

February 28, 2021
5 Things I Wish I Knew Before Getting Into Crypto

5 Things I Wish I Knew Before Getting Into Crypto

February 28, 2021
  • Contact Us
  • Terms of Use
  • Cookie Privacy Policy
  • Privacy Policy
  • DMCA

© 2020 MarketForBitcoin.com

No Result
View All Result
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • investors
  • Technical
  • Crash
  • spam
  • stock
  • Blockchain
  • Videos

© 2020 MarketForBitcoin.com

  • bitcoinBitcoin(BTC)$45,557.00-3.82%
  • bitcoin-cashBitcoin Cash(BCH)$471.44-4.15%
  • binance-coinBinance Coin(BNB)$221.20-1.81%
  • bitcoin-goldBitcoin Gold(BTG)$25.55-4.25%
  • bitcoin-privateBitcoin Private(BTCP)$0.603-18.98%
  • blocktixBlocktix(TIX)$0.0200.00%