Chris Lowe – Inner Circle (USA) –
To say Bitcoin had a good year in 2016 is an understatement.
On December 31, the world’s most popular cryptocurrency hit $1,022 – a 125% climb for the year and its highest level since December 2013.
That makes Bitcoin the best performing of ALL currencies for the year.
Think about that for a moment…
Bitcoin launched in October 2008 with a dollar value of zero and no government backing. If someone had told you back then that, after just eight years, it would be the best-performing currency on the planet and worth more than $1,000, you would have thought he was crazy.
But that’s exactly what happened: A 100% private online currency that can’t be manipulated by central banks and is subject to no central authority outperformed ALL government-backed, central-bank-controlled fiat currencies.
It’s compelling evidence for Bill’s thesis that the fiat money system is doomed. (Bill Bonner Letter subscribers can catch up in full on Bill’s prediction here.)
Fiat currencies are stumbling… and Bitcoin is soaring… because others are starting to see that the “monetary catastrophe” Bill’s been warning about may not be far off.