Bitcoin and the ruble are racing to the dollar’s bottom
The Russian ruble is doing very badly. The country’s central bank is trying to stem the damage with a huge interest-rate hike, but to no avail. And now the currency is performing worse than bitcoin, an imaginary money that doesn’t have a G8 government backing it.
ByMelvin Backman and Melvin Backman
The Russian ruble is doing very badly. The country’s central bank is trying to stem the damage with a huge interest-rate hike, but to no avail. And now the currency is performing worse than bitcoin, an imaginary money that doesn’t have a G8 government backing it.
Until yesterday, bitcoin was one of the worst investments of the year against the US dollar. No longer!
