RE: Bitcoin Now Buys 600 Barrels of Crude Oil!
This is crazy to see, oil has dropped to prices unseen and unheard of since 1983 and 1 Bitcoin will buy 600 barrels at the moment
Bitcoin Now Buys 600 Barrels of Crude Oil as Prices Fall Below Zero
“A single Bitcoin (BTC) now buys over 600 barrels of crude oil as an unprecedented sell-off takes BTC purchasing power sky high.
According to data from monitoring resources including Bloomberg on April 20, futures for a barrel of WTI expiring in May shed 36% on the day.
At press time, the contracts were worth $11.37 — heading for their lowest since inception back in 1983.
Despite attempts to cut supply, it appears oil markets may well fulfill the prophecy of Bitcoin proponents and fall to $10 per barrel or lower.”
It really is mind-boggling, as of now, one Bitcoin will buy @ 7,000 barrels – actually more as I’ve seen screenshots of negative prices.