Strong dollar might present buying opportunity for domains
Make that offer to domain owners outside the U.S. again because it might seem like a better deal to them.
The U.S. dollar is stronger than many other currencies right now.
Despite a recent pullback, the U.S. dollar has strengthened this year. This might give domain buyers whose assets are in greenbacks some good buying opportunities.
At the beginning of the year, it took $1.13 to buy one euro. Now it’s $1.07 and was as low as $1.04 earlier this month.
It takes $1.26 to buy one GBP. It was $1.35 at the beginning of the year.
This means your dollars are worth more to people whose assets are in euros or pounds, so the offer you made at the beginning of the year will seem better to them now than it did back then.
Of course, the inverse is true if you were making offers in other currencies. Even worse if it was in cryptocurrency; your one bitcoin offer is now worth just 2/3rds what it was at the beginning of the year.
While the dollar has proven strong during the recent market pullback, it’s even stronger if you look back historically. The dollar was the go-to currency during the great recession. But compared to then, the dollar is even stronger now.
Over a two-month period in 2008, the pound sterling dropped from $2.00 USD to $1.56. The Euro dropped from $1.60 USD to $1.25.
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