Note from the CEO: OK, well if you do read FintekNews daily (thank you) this article can’t sneak up on you. Although we cover a broad range of fintech categories we have been writing about (and recommending) bitcoin for quite a while now. So guess what? Bitcoin is outperforming everything.
Here is a very good article that reflects back on last year’s rise, and acceptance, of bitcoin. For the second year in a row it is the top performing currency (and yes, it is a currency) and every day more reasons to buy hit the media. Excellent read no matter your opinion on “the coin”.
“Bitcoin is no stranger to extreme fluctuations.
For each of the last four years, the cryptocurrency has either been the best or the worst performing currency – with nothing to be found in between.
Luckily, for those that follow the digital currency closely, those fluctuations were mostly pointed in an upwards direction for 2016. The currency finished the year at $968.23, which is more than double its value from the beginning of the year….
Brazil’s real rallied 21.9% on the year, the most in seven years….
Russia’s ruble also finished the year with double-digit gains, up 17.8% against the U.S. dollar….
Africa’s biggest economy, Nigeria, fell into its first recession in 25 years during the opening half of 2016. Ripple effects from low oil prices caused the Nigerian naira to lose more than one-third of its value throughout the year, making it the worst performing currency (at least officially)….
Unofficially, Venezuela’s struggling economy has been pushed to the brink by its ongoing currency crisis……
Bitcoin is now the best performing currency for two years in a row (2015, 2016)…”