Bitcoin as the New Gold – POTUS Reserves and Future Plans & How BTC Bull Toke...
Last week saw historic crypto events: Strategic Bitcoin Reserve (SBR)/ Digital Asset Stockpile (DAS), a Crypto Czar appointment (David Sacks), and the first Crypto Summit. You’d think that with such significant announcements, the crypto markets would respond positively and surge. Despite the developments, Bitcoin experienced a $5K drop as the limited policy details emerged, and […]
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The president of El Salvador, Nayib Bukele, has revealed that his country holds 44,106 oz. of gold in its reserves that has lost some value over the past year. He told gold bug Peter Schiff that if El Salvador had sold its gold and bought bitcoin last year, it would now be worth $125 million more.
Bitcoin vs. Gold: El Salvador Could’ve Made Millions More Switching Reserves From Gold to Bitcoin
El Salvador’s president Nayib Bukele has revealed some details of his country’s gold reserves in a conversation on Twitter with gold bug Peter Schiff.
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On-chain analysis shows Bitcoin miner reserves seem to be closing in on the ATH seen in May, as the BTC bull rally continues. Bitcoin Miner Reserves Reach Close To May ATH Levels As pointed out by a CryptoQuant post, the BTC miner reserves seem to be on the rise, and look to be close to the levels seen during the 9 May all-time-high (ATH). The BTC miner reserves is an indicator that shows how many coins miners are holding in their wallets. More the value of this metric, less the selling pressure for miners in the market. Related Reading | S2F Creator Beckons Beginning Of Second Leg Of....
The Swiss Gold Referendum and the "Save Our Swiss Gold" movement that would have forced the Swiss National Bank (SNB) to hold at least 20% of its balance sheet in gold has been definitively defeated. Earlier today, Switzerland's populace spread across 26 different cantons voted on several referendums and soundly defeated two that have made headlines around the world. Experts have been expecting a defeat on the Swiss Gold Reserves referendum for many weeks now as support dwindled even prior to voting day. In the end, 77% of participating Swiss voters decided against forcing their national....
Gold prices have been steadily tumbling in the past few weeks, more so recently after the Chinese reserves data revealed a smaller than expected portion of gold reserves. Gold has been treated as a hedge against inflation, typically gaining in value also when investors are seeking lower-yielding returns from safe-havens. This time around, even with all the monetary policy easing going on among central banks and the prospect of another downturn in inflation, gold prices have failed to rally. Some financial market experts say that gold prices might not see much upside anytime soon since....
Russia is now holding more gold than U.S. dollars in its reserves for the first time, according to the latest report by Russia’s central bank. Russian President Vladimir Putin has made de-dollarization his country’s key policy to reduce the Russian economy’s exposure to the U.S. dollar amid heavy sanctions. Russia Now Has More Gold in Its Reserves Than US Dollars Gold has reportedly surpassed U.S. dollars in Russia’s reserves of $583 billion for the first time, according to a report published this week by the Bank of Russia. The country has been growing its....