Forget the weekly bitcoin-stocks correlation. There's a strong yearly oranges-to-BTC price correlation. It's a perfect example of what makes bitcoin's master thesis so appealing.
orange juice futures
is theoretically what bitcoin’s advocates expected if their cryptocurrency project succeeded. Now their theory is empirically validated. The orange comparison is so legally spot on after the SEC vs. Ripple battle, one might suspect Satoshi Nakamoto had read up on U.S. securities law before launching their project. It’s another sign of the BTC project’s consummate professionality from beginning to end.Global orange prices are up by over 180% since Jan 2020. Meanwhile, BTC went on a peelfrom January 2020’s $9,000 levels. That’s because the dollar’s inflation is BTC’s price rally, the same as it is for the prices of consumer goods.
A dollar earned in Jan 2020 can’t buy half the oranges it used to. But one saved on bitcoin’s blockchain has more than kept up with inflation. It can buy even more oranges today than it could when it was earned. That’s why bitcoin’s die-hard advocates say it’s an inflation shelter for your earnings.
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