Ukraine Economy Bailout Presents Bitcoin Opportunity
For some countries around the world, times are very tough as local economies are starting to fall apart. Ukraine is one of those countries, as inflation will be hitting a record-high of 44 percent later this year. Combine that number with a near 25-percent inflation, and anyone can see why the Ukraine economy needs a bailout. At the same time, Ukraine’s central bank is warning people about the use of Bitcoin and other digital currencies. There are several factors to blame for the collapse of Ukraine’s economy, although the biggest culprit comes in the form of a conflict with Russia. On top....
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Hours after Greece had officially defaulted on its bailout loan from the International Monetary Fund. Eurozone ministers were already discussing terms of a new bailout loan to keep the country afloat. Officials today will decide whether or not an emergency loan to Greece from the European Central Bank. The meeting where ECB ministers will decide as much is only the first of two meetings that are to happen this afternoon, the other being in regards to Greece's request for a new bailout amounting in nearly 30 billion Euros and lasting two years. Many expect a tidy end to a short-lived crisis....
The world's second-worst currency this year is Ukraine's hryvnia. Being at war with a nuclear-endowed superpower is an expensive business, and Ukraine's economy is crippled even after an international bailout worth $17 billion. And the worst is Bitcoin, Bloomberg View reports. "Bitcoin is second only to gold on the list of topics guaranteed to arouse the wrath of the Internet trolls. Yet relentless promotion can't hide these facts: The digital currency peaked at a value of $1,130 just over a year ago. Its plunge of more than 56 percent in 2014 makes it the world's worst performing currency....
Crypto donations to Ukraine have continued to grow as the war rages on. The country has seen the majority of the globe rallying around it against Russia, which many perceive as the aggressor. Given that Ukraine is a smaller country and boasts a weaker military power compared to its opportunity, the country could use all […]
Ukraine has imposed new rules restricting the Fiat usage, which in return would help boost the crypto economy. The National Bank of Ukraine had introduced certain new rules due to change in the country’s financial fundamental situation due to the ongoing military war with Russia. NBU has now devalued Hryvnia against the US dollar by […]
Central banks all over the world are exploring the possibilities of creating their own national digital currencies based on Bitcoin’s “blockchain” technology. This digital currency “movement” was first seen in Tunisia but has made its way to Ukraine, Senegal and Sweden. Ukraine Joins a Growing Number of Central Banks Considering Bitcoin Technology.....