A “Digital Dollar” Doesn’t Fix This
Federal Reserve Chair Jerome Powell thinks a central bank digital currency would obsolete bitcoin. He's way off.The below is an excerpt from a recent edition of the Deep Dive, Bitcoin Magazine's premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.During a testimony yesterday afternoon in front of the U.S. Financial Services Committee, Federal Reserve Chairman Jerome Powell commented on the impending central bank digital currency (CBDC) to be launched by the Fed, and how in his mind....
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Bitcoin is currently consolidating following its sharp decline seen yesterday The cryptocurrency is lacking momentum as its bulls and bears both seem to reach an impasse, which has struck a blow to its technical outlook One of the main reasons why BTC saw such a harsh rejection at $13,800 was due to a sudden surge in the US Dollar’s value seen yesterday This sent shockwaves throughout the market and stopped BTC from breaking the resistance […]
Will Bitcoin end the dollar’s supremacy one day? Bitcoin (BTC) poses a significant threat to the world’s reserve currency, the United States dollar, according to a strategist at major American investment bank Morgan Stanley.Ruchir Sharma, chief global strategist at Morgan Stanley Investment Management, believes that the dollar’s reign is likely to end due to global distrust in traditional finance, while Bitcoin is likely to capitalize on that lack of confidence.In a Dec. 9 article in The Financial Times, Sharma provided a brief outline on the history of the world’s reserve currencies,....
Walmart's Search To Hire A “Digital Currency And Cryptocurrency Product Lead” Could Be Promising For Bitcoin.
Crypto advocates often refer to Bitcoin as “digital gold,” but how does BTC stack up against gold as a long-term investment? The emergence of forty-year high inflation readings and the increasingly dire-looking global economy has prompted many financial analysts to recommend investing in gold to protect against volatility and a possible decline in the value of the United States dollar. For years, crypto traders have referred to Bitcoin (BTC) as “digital gold,” but is it actually a better investment than gold? Let’s take a look at some of the conventional arguments investors cite when....
During Mulvaney’s speech to the John Birch Society chapter, the also praised Bitcoin for its ‘immutability”. Bitcoin enthusiasts are not the biggest fans of the Federal Reserve. Some people would even go as far as saying how the Fed is the cause of all evil in the US economy. One of the people sharing such strong sentiments is Mick Mulvaney, Donald Trump’s budget chief. Interestingly enough, he is also a founder of the Congressional Bitcoin Caucus. When appointing a new budget chief, the President-elect made a rather surprising choice. Up until that moment, very few considered Mick....