Re:BadEconomics: Putting $400M of Bitcoin on your company ba...
by MichaelDickens on Monday January 04, 2021 @03:41PM
(#25637582)
If that were true, you would expect to see that:
1. The exchange rate between USD and other currencies fluctuates about as much as USD/BTC.
2. The exchange rate between BTC and other currencies is relatively stable, or at least uncorrelated to the USD/BTC rate.
But in fact you see neither of these. So either (1) all developed-market currencies are seeing massive fluctuations that are all somehow perfectly correlated with each other, or (2) BTC is the one that's fluctuating, not USD.
1. The exchange rate between USD and other currencies fluctuates about as much as USD/BTC. 2. The exchange rate between BTC and other currencies is relatively stable, or at least uncorrelated to the USD/BTC rate.
But in fact you see neither of these. So either (1) all developed-market currencies are seeing massive fluctuations that are all somehow perfectly correlated with each other, or (2) BTC is the one that's fluctuating, not USD.