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Venture capitalist and angel investor Balaji Srinivasan says hyperinflation is happening now. Expecting the price of bitcoin to soon hit $1 million, he is making million-dollar bets that it will happen in 90 days. Srinivasan also advised investors to buy bitcoin, which he believes to be “a hedge against hyperinflation, monetary debasement, bank freezes, and … Read more
On March 2, Xapo Bank announced its partnership with Lightspark, a company led by David Marcus, former crypto boss at Facebook. The partnership aims to extend the utility of bitcoin and the Lightning Network. Xapo revealed on Thursday that it is the first fully licensed private bank to offer payments through the Lightning Network. Xapo … Read more
The government of South Sudan has reportedly prohibited U.S. dollar-based transactions and has directed that all local payments be settled in the local currency. The Salva Kiir Mayardit government reportedly said it also wants all signed commercial contracts to be based on the local currency. South Sudan’s Economic Meltdown As part of initiatives aimed at … Read more
Central bank Governor Nandalal Weerasinghe believes that adopting decentralized cryptocurrencies would worsen the country’s economic situation. Go to Source Powered by WPeMatico
Prices in Venezuela have been rising steadily even when denominated in foreign currency. According to data collected by Ecoanalitica, a market research firm, prices marked in dollars have grown close to 54% during 2022, affecting the income and savings of Venezuelans that have been using the U.S. dollar as an inflation hedge. Prices Grow Even … Read more
Sudeban, the Venezuelan banking watchdog, is currently working on a mechanism to review crypto-related transactions in real-time to control the influence these have on the stability of the exchange market. Analysts have recently linked the situation in peer-to-peer (P2P) crypto markets to the recent drop in the value of the bolivar. Venezuelan Government to Monitor … Read more
There’s still plenty of room for innovation, according to Ethereum’s co-founder Vitalik Buterin. Go to Source Powered by WPeMatico
Bitcoin’s status as an inflation hedge has come under scrutiny in the current market, but experts point toward the exceptional market conditions. Go to Source Powered by WPeMatico
More people are using stablecoins to hedge against inflation, as they offer numerous benefits. Go to Source Powered by WPeMatico
Since the start of the year, the crypto market’s performance has been considerably poorer than the S&P 500 and other popular indexes. Go to Source Powered by WPeMatico
