Reuters runs the headline Bitcoiners have longed to learn

The U.S. Greenback Index fell sharply at present, extending a ten month shedding streak that locations it on the lowest level since April 2018. 

Worldwide information company Reuters marked the event with a narrative headlined: “Greenback plummets on U.S. stimulus hopes; Bitcoin hits all-time peak”. The article famous the tumble coincided with at present’s information of a second COVID aid invoice being mentioned in Congress and the recommencement of negotiations between the U.S. Treasury Secretary Steve Mnuchin and Home of Representatives Speaker Nancy Pelosi. The piece contrasted the falling greenback with the rising value of Bitcoin which briefly surpassed all-time highs for the second day in a row on Tuesday.

I actually didn’t count on to see a headline like this from mainstream press. pic.twitter.com/istPVkw9Sc

— Dan Held (@danheld) December 1, 2020

“Seems like a headline from 2024,” remarked Erik Voorhees, CEO of ShapeShift and long-time Bitcoin advocate, in a tweet about Reuters’ headline. “… however I assume we must always assume it will not be one headline, however many over the approaching years.”

Some Bitcoiners in contrast the Reuters headline with that of the famed headline from The Instances that’s embedded within the Bitcoin genesis block: “Chancellor on brink of second bailout for banks”, noting the importance of the modifications between at times.

Traditionally talking, Reuters isn’t recognized for its constructive protection of Bitcoin, however this can be altering. Final week the information company revealed a narrative analyzing the chance of a $100,000 value goal for Bitcoin by the tip of 2021, and the week earlier than got here a narrative about how this 12 months’s “bubble” is totally different to 2017’s.

The U.S. Greenback Index is a measure of the worth of USD relative to a basket of different currencies; the Euro, Japanese yen, Pound sterling, Canadian greenback, Swedish krona and Swiss franc.

Beginning at a relative worth of 100 in 1973, the index reached an all-time excessive of 151 in October 1984 and an all-time low of 71.8 in April 2008. It at the moment sits at 91.1 — a low not witnessed for greater than two and a half years.

The USD has additionally fallen relative to numerous different currencies and closely traded belongings over time, together with many commodities and shares. The devaluation of the greenback through inflation was sped up this 12 months by the U.S. authorities’s makes an attempt to offer COVID-19 aid within the type of financial stimulus, which in line with consultants, helps to drive the worth of BTC to all-time highs.