Bitcoin To Benefit From Collapse Of US-Dollar Paper Standard – Jefferies Chi...
As Bitcoin, the flagship cryptocurrency asset continues to garner support from leading figures in the industry, Chris Wood, the Chief strategist at Jefferies in a daring statement that might change people’s perceptions of digital currencies has suggested that the potential collapse of the United States Dollar Paper Standard could significantly benefit BTC holders in the […]
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Christopher Wood, the global head of equity at Jefferies, a global financial services company, says the firm will reduce exposure to gold in favor of bitcoin. He adds that there are plans to increase the crypto component of Jefferies’ long-only global portfolio for U.S. dollar-denominated pension fund if and when the bitcoin price drops from current levels. As a result of this decision, 5% of the fund will now consist of bitcoin. The Case for Bitcoin Before making the decision, Jefferies allocated funds as follows: 50% towards (now 45%) physical gold bullion, 30% to Asia ex-Japan....
How would a bitcoin standard fare for a monetary system? An analysis by the Bank of Canada examined that scenario, conjecturing how a bitcoin standard would perform based on the performance of a gold standard that existed from 1880 to 1913. The gold standard was a monetary system in which nations’ currencies were tied to gold. The 37-page paper [PDF] is written by Warren E. Weber, research consultant at the Bank of Canada, visiting scholar for the Federal Reserve Bank of Atlanta, and adjunct professor at the University of South Carolina. The paper claims that because....
Collapse. It seems to be a word that is becoming more and more relevant in our everyday lives. The economic collapse of Greece. The collapse of the Petrodollar. The collapse of our civil liberties and constitutional rights. And the upcoming collapse of the U. S. Dollar. There's a lot on our plate right now, but why not lay all the cards on the table? What would happen if Bitcoin collapsed? This possibility is much closer than you think, and efforts to avert it are underway, but what if nothing was done? Let's pretend everyone just acted like everything's peach fuss with Bitcoin and its....
A research consultant for Canada's central bank has published a new research paper that envisions a world that has established a monetary standard based on bitcoin. The outcome, speculates author Warren Weber, would be a mix of good and bad in terms of impact on monetary policy. Weber writes: “A bitcoin standard would have two major benefits over current fiat money standards. One is that there would be greater price-level predictability due to the known, deterministic rate at which new bitcoins are created. A second is that the resources currently devoted to hedging against fluctuations in....
In response to the recent collapse of controversial crypto project Terra, Britain is looking into ways to ensure stablecoins don’t threaten their wider financial system. Her Majesty’s Treasury printed a new consultation paper on Tuesday, May 31, 2022, regarding minimizing the risks of the possible collapse of stablecoins and many more digital currencies by utilizing […]