store of value

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Digital Euro Should Be Attractive But Not ‘Too Successful,’ ECB’s Panetta Says

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The digital euro should be an attractive means of payment but its design should prevent it from becoming so successful as a store of value that it threatens banks and private money, according to Fabio Panetta, a high-ranking executive at the European Central Bank. Panetta stressed that both this paradox as well as the need … Read more

Putin: Still Early but Crypto Can Be Used for Oil Trade Settlements, Store of Value

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Accusing the U.S. of undermining the dollar through money printing and sanctions policy, President Vladimir Putin has admitted that cryptocurrency can be utilized for settlements in the future, although it’s too early to do that in oil trade. While noting that it lacks backing, the Russian leader assumed crypto could be used to store value … Read more

Nigerian CBDC Website Goes Live, Central Bank Faces Trademark Infringement Allegations

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According to reports from Nigeria, the official website for the Central Bank of Nigeria (CBN)’s e-naira digital currency is now up and running. The reports come just a few days before the start of the central bank digital currency (CBDC) rollout. E-Naira Similar to Physical Currency An analysis by regional news outlet This Day suggests … Read more

South African Central Bank Governor Reiterates: ‘Crypto Is Not Currency’

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The governor of the South African Reserve Bank (SARB), Lesetja Kganyago, has reiterated the central bank’s longstanding belief that cryptocurrencies like bitcoin are not currencies. According to Kganyago, crypto-assets, as he prefers to call them, are not currencies because they fail to meet the standard of what constitutes a currency. Crypto and the Currency Test … Read more

Kenyan Insurance Executive Calls Cryptocurrencies Ponzi Schemes, Warns Users This Will ‘End in Tears’

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A Kenyan insurance executive, Julius Kipng’etich has compared cryptocurrencies like bitcoin to Ponzi schemes and has urged his countrymen not “touch this.” In addition, Kipng’etich warned those already involved in crypto trading to be prepared for the consequences as this always “ends in tears.” Bitcoin as a Medium of Exchange Interestingly, when addressing attendees of … Read more

US Senator’s Advice: Buy, Hold, Save Bitcoin for Retirement as Congress Floods Economy With Trillions of Dollars

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U.S. Senator Cynthia Lummis has encouraged “people to buy and hold” bitcoin in their portfolios. “I encourage them to save bitcoin for their retirement, for their future,” she said, adding that with Congress flooding the economy with trillions and trillions of dollars, “there’s no way” the value of the U.S. dollar will not be debased. … Read more

Report: South African Taxes and Smuggling Behind Gold’s Price Distortions in Zimbabwe

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Despite gold’s longstanding status as an alternative store of value, the commodity continues to experience unusual price variations in countries like South Africa and Zimbabwe. In turn, such price variances, as well as the rampant smuggling of the commodity, are distorting the precious metal’s actual production figures. Recycled Gold vs Non-Recycled Gold According to a … Read more

New SEC Chairman Unveils Policies for Cryptocurrencies, Calls Bitcoin ‘Scarce Store of Value’

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The new chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has shared his view on how the SEC plans to regulate cryptocurrencies, particularly bitcoin. He calls bitcoin “a digital, scarce store of value” and stresses the need to put in place some investor protections for this asset class. New SEC Chairman Talks … Read more