Bitcoin’s Market Cap Is More Valuable Than the IMF’s Special Drawing Rights R...
At its current price per unit, the decentralized cryptocurrency Bitcoin’s market valuation has surpassed the overall value of the International Monetary Fund’s (IMF) Special Drawing Rights market (SDR $281 billion). Since the massive global market rout on March 12, bitcoin has risen over 323% since the crypto asset’s $3,600 low in 2020. The price of bitcoin has increased a great deal in 2020. Especially after the global market crash that wiped out nearly every commodity and stock under the sun. Even then, the price of bitcoin (BTC) had a hard time in mid-March, as prices....
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A senior spokesperson of the International Monetary Fund (IMF) highlighted India’s preference to regulate crypto assets and ranked this issue as a medium-term priority. Tobias Adrian, the Financial Counselor and Director of IMF’s Monetary and Capital Market Department, explained IMF’s point of view on India as “a fairly positive one” and stated: I think there […]
The International Monetary Fund (IMF) has published an article in the Finance and Development magazine that looks at how Bitcoin and blockchain technology has the ability to rewrite the financial sector. Written by Andreas Adriano, a senior communications officer in the IMF’s communications department, and Hunter Monroe, a senior economist in the IMF’s monetary and capital markets department, the article, “The Internet of Trust,” [PDF] focuses on the history of Bitcoin, its blockchain technology and how it can be used to benefit the financial sector. When it was first introduced Bitcoin....
BRICS nations have revealed they’re “creating an international reserve currency” analysts believe is meant to challenge the U.S. dollar and the International Monetary Fund’s Special Drawing Rights (SDR) currency. Further, Donald Trump warns of a depression in the U.S., Rich Dad Poor Dad author Robert Kiyosaki says we’re in for the “biggest bond crash” in over 200 years, and FTX CEO Sam Bankman-Fried says he’s ready to deploy “hundreds of millions beyond what we have thus far” to help digital currency companies. Buckle up....
On October 1 of this year, the IMF added the Chinese Yuan (CNY) to the Special Drawing Rights basket of currencies. Only Big Boy currencies are included, and now China is part of the club: USD, GBP, JPY, EUR and now CNY make up the basket. The IMF could not ignore the currency of the world’s second largest economy. In order to be considered, China pledged to speed up the internationalization of the CNY. That meant gradually opening up its capital account, and gradually allowing the market to determine the value of the CNY. China isn’t one to follow diktats of foreign countries to the....
Crypto.com and many other exchanges have been immersing themselves in sports sponsorships lately. Staples Center has been home to a lot of special moments over the course of it’s twenty years in Los Angeles. In a Tuesday night tweet, NBA insider Shams Charania stated that cryptocurrency exchange Crypto.com secured a new naming rights deal that […]