Crypto seen as the ‘future of money’ in inflation-mired countries
Citizens in countries with heavily devalued currencies “need to have crypto.” In the developed world, it’s often just “nice to have.” Last year, cryptocurrencies reached a “tipping point,” according to Gemini’s 2022 Global State of Crypto report, “evolving from what many considered a niche investment into an established asset class.” According to the report, 41% of crypto owners surveyed globally purchased crypto for the first time in 2021, including more than half of crypto owners in Brazil at 51%, Hong Kong at 51% and India at 54%.The study, based on a survey of 30,000 adults in 20....
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The AXIA native cryptocurrency becomes scarce as the activity or participation on the network increases. AXIA, the team behind the novel message-to-earn approach of AXChat, announced the mainnet launch of its blockchain and native currency on Thursday. The new network is designed to provide a "hyper-deflationary" economic model in which the cryptocurrency becomes more and more scarce as its adoption grows. According to its website, the AXIA blockchain is a third-generation blockchain that attempts to address problems like the lack of interoperability, speed and accessibility.The AXIA....
Creditbit is one of the faster growing cryptocurrencies and has also been tagged as the ‘Future of Money’. Creditbit was launched in 2015 with the aim of revolutionising the monetary system. It works on the decentralised model like various other digital currency platforms and hopes to make banking and financial services over the blockchain available to every individual on the planet. Creditbit is one of the faster growing cryptocurrencies and has also been tagged as the ‘Future of Money’. Creditbit is the cryptocurrency of the new age as it will not only be implemented on Ethereum platform....
Federal Reserve Bank of St. Louis Vice President, Dr. David Andolfatto, is optimistic about Bitcoin, as an alternative currency could impose limitations on the ability of governments to raise revenue through money creation. “In some countries”, the former professor says, “the ability for a central bank to print money is a significant source of revenue....
The host of Mad Money, Jim Cramer, claims that “With the immolation of crypto, the Fed’s job is almost complete.” He stressed that “one front in the war on inflation that’s been an outstanding total victory for the Fed” is the battle against financial speculation.
Jim Cramer on Fed’s Policy, Inflation, Crypto
Jim Cramer discussed crypto and the Federal Reserve’s fight against inflation on CNBC’s Mad Money show Thursday. Cramer is a former hedge fund manager who co-founded Thestreet.com, a financial news and literacy....
However, the lack of statistical correlation between inflation and crypto prices has not deterred many investors from viewing the asset in this way. Data from blockchain analytics firm Chainalysis suggests that Bitcoin (BTC) may not be the hedge against inflation that many seem to believe it is.“Right now, we can't show a statistically significant correlation between inflation in the US and Bitcoin prices, but we know anecdotally that many people invest in Bitcoin as a hedge against inflation,” Chainalysis’ head of research, Kim Grauer, told Cointelegraph on Aug. 31 when asked about her....