Those who invested their government stimulus checks in Bitcoin in mid-April have already been rewarded with 35% gains. The price of Bitcoin reached $9,000 on May 5, making those checks now worth $1,610. But will the halving change things? Those who purchased Bitcoin with their coronavirus stimulus checks have already Read more…
The global economy is estimated to drop by 3% this year, before rebounding by 5.8% in 2021, the International Monetary Fund (IMF) said today, stressing that “this crisis is like no other”. In the past 60 years, the global economy decreased only once. In 2009, when Bitcoin started its journey, the global Read more…
Central banks push for heavy-duty regulation of centralized, privately-issued global stablecoins and consider prohibiting decentralized ones. Fiat-pegged cryptocurrencies are coming under scrutiny, based on recommendations from the Financial Stability Board. The Financial Stability Board (FSB) released a document addressing the regulatory, supervisory, and oversight challenges raised by global stablecoins. The document, although only Read more…
The South Korean central bank, the Bank of Korea (BOK) is “one step closer” to launching a pilot for a central bank digital currency (CBDC) and could start piloting a token as early as December this year – in line with central banks in other regions, which are also thought to be on Read more…
There is a general consensus that the global economy is heading for a sharp recession. The economic output will contract, but there are, at least, certain innovations that can be implemented to mitigate the situation. Central banks have already slashed interest rates and begun quantitative easing in the US, the UK, Read more…
Demand for gold is skyrocketing and the clamor for scarce assets in a remote-first world was precisely where bitcoin was supposed to shine. However, rather than creating a perfect scenario for the supranational money, the coronavirus crisis could instead entrench reliance on traditional institutions. In a world where central bank digital currencies Read more…