Why is bitcoin priced against the dollar? Bitcoin has nothing to do with it.
Discussion
Because you are looking at charts where it is priced in USD. Probably because you purchase it in that currency.
I follow the Bitcoin price in Euros and gold oz.
You can switch between different fiat and crypto currencies in the settings.
And through the ETF launch, it's actually become more easy to accurately compare Bitcoin to any other majority commodity.
www.coindesk.com/markets/2024/01/18/bitcoin-instantly-topped-silver-in-etf-market-and-trails-only-gold-among-commodities/amp/
I mean for example we dont compare the dollar every day to some other currency. We dont look at the dollar price chart each day and see its price go up and down. The price fluctuations dont affect the price of daily items in the store. Unless we do and im ignorant? Do we price it beside gold?
Speak for yourself. 😂
I check the USD/Euro price every morning. It's printed on the front page of my newspaper.
Outside of the USA, the dollar's fluctuations create almost immediate consumer and asset-price changes. It can lead to dramatic effects.
Because it's the simplest proxy to bitcoin's purchasing power
history of the federal reserve banking system makes it so i think
the book The Creature from Jekyll Island comes to mind
GM good point