Bitcoin Surpasses All Time High in Brazil, Bull Runs in Iran, Nutsy Pricy in Argentine

bitcoin all time high in brazilian money oct 2020

Bitcoin has just reached all time high in Brazilian Real (BRL) as pictured above, with this being the first time since the genesis block that a major economy monetarily gets significantly out of step with global market prices. On the surface, things look somewhat OK. Brazil is growing, but only by one point something percent, way less than the general 5% prior to half a decade ago. Inflation appears lowish, at around 3%, with this country having a trade surplus of some $6 billion. So what’s the problem? How has bitcoin reached all time high in BLR while their price in dollars is that of the global market at circa $13,000? The problem is their printer brrrr-ed too much, to the point their money has lost too much value against the dollar, dropping from 4 to 5.6 BRL to the dollar just this year. That’s while the dollar itself has…

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