Thanks to its continuous 24/7 operation without holidays or weekends, #Bitcoin❗ now has more trading hours behind it than the #StockMarket since the so-called "Nixon Shock" (August 15, 1971).
😳 The "Nixon Shock" refers to a series of economic measures taken by U.S. President #RichardNixon on August 15, 1971.
The most significant of these measures was the unilateral decision to suspend the convertibility of the U.S. dollar into gold. 🤦🏻♂️
This marked the end of the Bretton Woods system, which had tied the value of the dollar to gold, and effectively led to the transition to a system of floating #exchange rates, where currencies are traded freely and their value is determined by the market. 🧐
This event had a major impact on global finance, shifting the world away from the gold standard and leading to greater volatility in currency markets. It also paved the way for the modern monetary system, where fiat currencies are not backed by physical commodities like gold. 🤷
