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Why Fiats Are Failing in 2020

From Brazil to Argentina to Turkey, bitcoin priced in local currencies is reaching all time highs. But is this a story of bitcoin succeeding, fiat failing or both?

Updated Sep 14, 2021, 10:23 a.m. Published Oct 23, 2020, 7:00 p.m.

From Brazil to Argentina to Turkey, bitcoin priced in local currencies is reaching all time highs. But is this a story of bitcoin succeeding, fiat failing or both?

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Today on the Brief:

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Our main discussion: fiat failures, 2020 edition.

In this episode, NLW looks at a raft of geographies in which bitcoin has recently reached all-time highs, priced in the local currency. The story, he says, is about fiats floundering more than mispriced local bitcoin.

Special focus on economic happenings in Brazil, Argentina and Turkey.

Countries where #Bitcoin has hit a new ATH in their local currency:

Brazil - pop. 209million
Turkey - pop. 82m
Argentina - pop. 44.5m
Sudan - pop. 41m
Angola - pop. 30m
Venezuala - pop. 29m
Zambia - pop. 17m

Soon:

Russia
Colombia

... then all other fiat currencies
— Alistair Milne (@alistairmilne) October 22, 2020