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The US Dollar’s Share of Global Reserve Currencies Drops as Japanese Yen’s Share Increases
5.1.2021
The U.S. dollar’s dominant position as the reserve currency of choice may be in peril, as its share of global currencies held in reserves continues to decline. International Monetary Fund (IMF) data shows, the dollar’s share of reserves dropped from 66% in Q3 of 2014 to just above...
New York Approves Its First Publicly Available Japanese Yen Stablecoin
29.12.2020
The New York State Department of Financial Services, the Bitlicense regulator, has authorized GMO to issue U.S. dollar and Japanese yen-pegged stablecoins. The latter “will be the first of its kind available to the public.” To date, the regulator has given out 27 charters and licenses...
Bitcoin All-Time Price High Surpasses $28K, BTC’s Half Trillion Market Cap Now Bigger Than Visa
27.12.2020
Bitcoin markets have been seeing a lot of action this weekend, as the price of the crypto asset touched another all-time high (ATH) at $28,378 per coin. Toward the end of 2020, the cryptocurrency’s market capitalization has crossed a whopping half of a trillion U.S. dollars in value....
Global Equity Head at Jefferies Says the Investment Bank Will Buy Bitcoin and Reduce Exposure to Gold
22.12.2020
Christopher Wood, the global head of equity at Jefferies, a global financial services company, says the firm will reduce exposure to gold in favor of bitcoin. He adds that there are plans to increase the crypto component of Jefferies’ long-only global portfolio for U.S. dollar-denominated...
Elon Musk Ponders Tesla Putting Billions Into Bitcoin, Asking if Such Large Transactions Are Possible
21.12.2020
Tesla and Spacex CEO Elon Musk made a series of tweets about bitcoin on Sunday. One of them concerns whether it is possible to buy bitcoin in “large transactions,” particularly for Tesla to convert its U.S. dollar reserves into bitcoin. Microstrategy’s CEO told Musk that this move...
Bitcoin Fund Debuts on Canada’s Biggest Stock Exchange
17.12.2020
CI Global Asset Management has begun to trade on the Toronto Stock Exchange in Canada. The fund’s initial public offering managed to raise $72 million and units commenced trading in both U.S. dollars and Canadian dollars. CI Global Fund Begins Trading CI Global Asset Management has made...
Peter Schiff Blames Government for the Massive Dollar Depreciation — Still Refuses to Accept BTC is Digital Gold
14.12.2020
Gold bug and bitcoin opponent Peter Schiff says the U.S. government’s actions in the past 78 years are partly responsible for the massive depreciation of the U.S. dollar. Using a medical bill from 1942 to illustrate the extent of the dollar’s decline, Schiff says the $70 paid to foot...
Morgan Stanley Strategist: Bitcoin Rising to Replace US Dollar as World’s Reserve Currency
13.12.2020
Morgan Stanley’s global strategist has made a case that bitcoin is making progress towards replacing the U.S. dollar as the world’s reserve currency. “Do not assume that your traditional currencies are the only stores of value, or mediums of exchange, that people will ever...
Report: Cryptos Set for Massive Adoption in the US as More Americans Embrace Digital Alternatives to the Dollar
9.12.2020
A survey commissioned by Satoshilabs finds that from the 45.8% of American respondents that say they own cryptos, nearly all of them (95%) believe cryptos to be a genuine currency solution. In addition, about 31.7% of those surveyed see crypto as a legitimate alternative to the U.S. dollar, while...
Financial Analysts Expect US Dollar to Soften Further, 2021 Could Be the Greenback’s ‘Worst Year Ever’
4.12.2020
Well before the coronavirus pandemic, global economists expected a grim-looking American economy and during the last ten months of the Covid-19 outbreak, the U.S. financial system looks even worse. Economists and analysts say the biggest concern is the U.S. dollar faltering into the unknown, as...
Blackrock CEO Larry Fink: Bitcoin Makes US Dollar Less Relevant, Can Evolve Into a Global Market
3.12.2020
The CEO of Blackrock, the world’s largest asset manager, said that bitcoin “can evolve into a global market.” Moreover, the cryptocurrency has a “real impact on the U.S. dollar,” making the need for the USD “less relevant.” Bitcoin Evolving Into a Global...
Hyperinflation and Rent Controls – 2020’s Telltale Signs of Economic Distress Haunts Many Nations
24.11.2020
If history serves us well, 2020 is likely a precursor to a long and dreadful economic depression throughout a myriad of countries worldwide. During the last year, economists and analysts have been discussing how specifically the United States economy and the U.S. dollar are losing global dominance...
USDT Towers Over 30 Stablecoins- Tether’s Market Cap Grew by 2 Million Percent in Just Four Years
22.11.2020
During the last two years since the initial bear market after the 2017 bull run, stablecoins have been extremely popular. Today, statistics show that the market capitalization of all the notable stablecoins today is hovering above the $23.9 billion mark. Out of more than 30 stablecoins in 2020...
Printing $1.7 Trillion for Climate Change: How Joe Biden’s Administration Aims to Push the ‘Green New Deal’
13.11.2020
In 2020, the U.S. Federal Reserve has injected an enormous amount of U.S. dollars to special interests in the banking sector in order to combat the economic effects stemming from the coronavirus outbreak. This week the central bank published its financial stability report and the Fed discussed...
Major Chinese Bank Selling Bonds Worth $3 Billion for Bitcoin
11.11.2020
China Construction Bank, one of the “big four” banks in China, is selling $3 billion in bonds that can be paid for with bitcoin. The bonds will be listed on a regulated Malaysian digital asset exchange. Beijing-based China Construction Bank (CCB) is selling $3 billion in bonds...
Currency Depreciation to Blame for 7.2% Drop in Global Remittances: World Bank Supports Digital Remittances
10.11.2020
According to a new report, the depreciation of some currencies against the U.S. dollar is contributing to the declining international remittances. After touching an all-time high of $548 billion in 2019, the World Bank report now projects remittances to drop 7.2% in 2020 to $508 billion and...
Stablecoin Savings: Circle Launches High Yield USDC Accounts for Businesses
7.11.2020
Two years ago the cryptocurrency firm Circle announced the launch of USDC, a stablecoin pegged to the U.S. dollar. This week, Circle revealed the launch of high yield digital dollar business accounts with APY up to 10.75%. On September 26, 2018, Circle and the Centre open-source consortium launched...
The Great Financial Reset: IMF Managing Director Calls for a ‘New Bretton Woods Moment’
19.10.2020
As the global economy shudders from the disastrous effects of central planning, the International Monetary Fund (IMF) managing director in Washington, DC, Kristalina Georgieva is calling for a “new Bretton Woods moment.” Georgieva spoke about the juncture on October 15, and she stressed...
$9 Trillion in Stimulus Injections: The Fed’s 2020 Pump Eclipses Two Centuries of USD Creation
5.10.2020
Since September 2019, research shows the Federal Reserve has pumped over $9 trillion to primary dealers by leveraging enormous emergency repo operations. A recently published investigative report shows the U.S. central bank submits the daily loan tally, but the Fed will not provide the public with...
American Economist Stephen Roach: ‘U.S. Dollar in the Early Stages of Sharp Decent’
30.9.2020
American economist and former chairman of Morgan Stanley Asia, Stephen Roach said on Sunday that he believes the U.S. dollar will “crash faster and harder.” Roach said similar statements during an interview back in June, and his latest commentary stresses that people should...