All Currencies Will Be Pegged to Bitcoin, Says ‘Price of Tomorrow’ Author Jef...
Entrepreneur and popular author Jeff Booth has predicted a grim future for fiat currencies, expecting them to fail as central banks keep printing money. Foreseeing an unavoidable, severe depression and banking failure, he believes bitcoin will become the world’s reserve currency and all national currencies will be pegged to it. ‘Highly Likely’ Bitcoin Will Become the Reserve Currency The author of “The Price of Tomorrow: Why Deflation is the Key to an Abundant Future,” Jeff Booth, has made the case that bitcoin will become the world’s reserve currency....
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While most cryptocurrency markets are down today in value, dollar-pegged stablecoins have seen significant demand during the last 24 hours. Currently, the entire market valuation of all the stablecoins in existence is roughly $96 billion. The Rise of Fiat-Pegged Stablecoins Crypto assets like bitcoin (BTC) and ethereum (ETH) can be volatile and this has caused demand for stablecoins in recent years. Since July 2017, the stablecoin market has swelled considerably but after April 2020, it skyrocketed. One of the main use cases for stablecoins is so people can hedge their funds when crypto....
Forbes published an article today that compares bitcoin price movement to the price movements of S&P 500. The author believes that bitcoin price movements are similar to those of the US equities more than 6 years ago. Last January, bitcoin dropped down below $170 to lose almost 75% of its value in approximately 7 months. Forbes' author found many similarities between the bearish waves of the NASDAQ composite index in 2002 and the S&P 500 in 2009 with bitcoin price charts in 2015, as shown by the following graph: The NASDAQ composite printed a high of over 5000 on the 2nd of March to....
The announcement highlighted that this may spark the launch of more peso-backed stablecoins within the region. Amid market issues surrounding stablecoins, Tether (USDT) launched a new digital asset that will be pegged to the Mexican peso on Ethereum (ETH), Tron (TRX) and Polygon (MATIC) networks. In an announcement sent to Cointelegraph on Thursday, Tether mentioned that the token will have the MXNT ticker and will join Tether's roster of fiat-pegged stablecoins that includes dollar-pegged USDT, euro-pegged EURT and Chinese yuan-pegged CNHT. Citing data that reports blockchain and crypto....
Bitcoin has the potential to be revolutionary and has drawn comparisons to many of the most powerful assets and technologies on the planet. On the asset side, it is earning its place alongside gold and currencies, while as a technology could be as groundbreaking as the personal computer or the internet. The author of the book Bitcoin Billionaires even believes, based on his close experience with the social network, that the cryptocurrency could become as […]
Reid Hoffman, LinkedIn Co-founder and Startup of You author, who sits on the boards of Mozilla Corporation, Swipely, Kiva, and Airbnb joins Blockstream’s Board of Directors as Blockstream raises at least $15.18m in a funding round that is still open. The information was reveled in a recent Securities and Exchange Commissions (SEC) filing. Blockstream is “a private company with a very public mission: the transformation of technologies of trust for the benefit of all.” On commit 5620e43 made October 22, 2014, Blockstream released the Enabling Blockchain Innovations with Pegged Sidechains....