Monday, January 2, 2017

Digital Currency Bitcoin Was Top Performer of 2016

The march towards a cashless society continues.

Today we ran across this blurb while reading an article reporting on the best and worst performing asset classes of 2016.

It was a particularly bad year for any currency called the "pound." The Egyptian version was the worst performer in 2016 as the nation took the dramatic step of allowing it to trade freely in an attempt to stabilize an economy struggling with a dollar shortage and concerns over social unrest. Britain's pound tumbled after Brexit and never recovered. 

On the other side of the spectrum, digital currency bitcoin was the best performer this year, rising more than 100 percent as capital controls in places like China and isolationist rumblings in the U.K. and U.S. have fueled interest in alternate currencies.

When it comes to currencies issued by governments and central banks, the Russian ruble has been the best performer of the year as the oil market rebounded. 


As you know, Bitcoin is a digital currency that doesn't actually exist in the form of paper, but instead is actively traded and used totally in cyberspace.  You would need to sign in to your account online in order to buy or sell anything using Bitcoin....and maybe one day soon you will need to scan a mark on your right arm in order to get access to it at all?

There are actually two prophetically interesting points in this little blurb on is the bitcoin and the other is that Russia had the best performing paper-money currency.  Of course lots of prophetic eyes are currently on Russia and a strengthened ruble would mean that Putin could buy more guns, tanks and missiles from arms dealers using his rubles.

As we and other have said....if Putin isn't Gog of Magog...he certainly is "Gog-esque".


Post a Comment

Subscribe to Post Comments [Atom]

<< Home