Last week ended with fiat markets sliding and fiat/Bitcoin interfaces following them as substantial resources were directed to make it appear Bitcoin was in some state of crisis comparable to, or perhaps even worse than fiat's. Today as ACH deposits delayed by the long holiday weekend1 made their way to fiat/Bitcoin interfaces the reported price per Bitcoin was restored to more than 400 United States dollars per Bitcoin. The markets however were not so kind to fiat interests.
The Dow Jones Industrial Average ended today down 249.28 dollars or 1.56% after at one point having been down 565 dollars. Out of the 30 stocks that comprise the index only 5: UnitedHealth,2 Apple3, Nike4, American Express5, and Microsoft6 managed to end the day up. Meanwhile oil prices closed under 27 United States dollars a barrel as their downward march continues. Even lead, 2015's top performing metal is down on the year at 0.74 United States dollars per pound and 1,504.65 Euros per ton.
Bitcoin's continued excellent performance relative to fiat interests has lead to a new all time high value for Bitcoin relative to oil. Oil prices for West Texas Intermediate with February delivery settled at 26.55 United States dollars while gribble reports a volume weighted last average for Bitcoin at 420.40 United States dollars thereby pricing one Bitcoin at 15.83 barrels of oil. The continued victories of Bitcoin over various USG and fiat interest backed efforts to subvert it are likely to put Bitcoin at all kinds of new all time highs versus different traded commodities.7
The United States celebrated Martin Luther King Jr. day which is a national government and banking holiday. The pageantry for this year's holiday proved very lulzy when FBI director James Comey spoke at a ceremony honoring a man his agency is confirmed on the public record to have surveilled, blackmailed and persecuted. Several conspiracy theories go further and allege the agency was involved in the assassination of Martin Luther King Jr. ↩
~2% gain ↩
~1.6% gain ↩
~1% gain ↩
~0.6 gain ↩
~0.5% gain ↩
Feel free to use the comments to this article to submit these. ↩