Central Banks’ Fedspeak ‘Reflects’ Bitcoin Disruption Fears
As central banks are increasingly snubbing Bitcoin, they’re cautiously studying the “disruptive potential” of its underlying technology or what the ECB now refers to as DLT. European Central Bank Executive Board Member, Yves Mersch, acknowledged this much in a recent speech, advising the Eurosystem members to reflect on the “wider implications” of its....
Related News
The Federal Reserve, everyone’s favorite central bank, is up to its usual shenanigans.
European banks are at risk of losing a significant portion of their profits with digital disruption cutting their profits in half by 2020, according to a report from McKinsey. The report, A Brave New World for Global Banking, states that major developed markets in Europe and the United Kingdom have $35 billion, or 31 percent, of profits at risk. It adds that more severe digital disruption could further cut banks’ profits from $110 billion today to $50 billion in the next three years and slice returns on equity (ROEs) in half from one to two percent in the same timeframe. However, the study....
If global central banks are any indicator, the bitcoin price can continue its supersonic bull run despite hitting a pause in the past three weeks.
Institutional investors have become the largest group of bitcoin buyers because of the negative interest rate policy of central banks and the rising bitcoin price, according to Chris Vermeulen, founder of AlgoTrades Systems, a market technical analyst, trader and a financial author, writing in resourceinvestor.com. Vermeulen claims central banks have proven to be a curse for global economies and their days are numbered because of new technologies and currencies. Investors Escape Fiat Currencies. People are putting money into digital currencies rather than fiat currencies due to central....
Bitcoin’s greatest attribute is resistance to the chaos created by central banks’ manufactured crises.