Bloomberg suggests that the price of Bitcoin is stabilizing at six times the price of gold, yet it contends that the asset is still undervalued. In its crypto outlook for August, Bloomberg contends that the price of Bitcoin (BTC) is stabilizing at six times the price of an ounce of gold. This speculation came shortly […]
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A fresh surge for BTC/USD sees bears increasingly left behind as the weekend’s $1,200 drop gets almost canceled out. Bitcoin (BTC) soared past the key technical resistance level of $11,500 and past $11,600 on Aug. 5 as a fresh round of bullish sentiment canceled out more of last weekend’s plunge. Cryptocurrency market daily snapshot Aug. […]
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“Deregulating Bitcoins and other cryptocurrencies may not necessarily promote technical innovation,” says Japan’s new top financial regulator. Ryozo Himino, the new commissioner of Japan’s Financial Services Agency, says the agency is wary of deregulating private cryptocurrencies. Noting that the COVID-19 pandemic could accelerate the transition to a cashless society, Himono instead emphasized the potential role […]
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Shortly after Russia’s President Vladimir Putin signed the country’s recent cryptocurrency law, the country’s largest bank voiced its considerations. Sberbank, a state-owned company and the largest bank in Russia, is considering the possibility of issuing its own token, according to its key executives. Sergey Popov, Director of the transaction business at Sberbank, says that Russia’s […]
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As the Turkish lira hits record lows despite foreign reserve selling, Steve Hanke says that only a “gold-backed currency board” can save the economy. A famous Bitcoin skeptic has called for a gold-backed currency to save Turkey as its national fiat currency collapses. In a tweet on Monday, John Hopkins professor Steve Hanke argued that […]
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China’s central bank may be planning to use its digital currency to curb the dominance of Alibaba and Tencent in the digital payments sector. The People’s Bank of China is purportedly planning to use its digital currency electronic system (DCEP) — another moniker for its central bank digital currency — to target the dominance of […]
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Blockchain is offering global governments a serious alternative to a strained financial system, Ripple CEO Brad Garlinghouse says. Cryptocurrency advocates have long been keen to point to the weaknesses of fiat currency. Now an uncertain world rocked by a global health crisis and geopolitical flare-ups is bringing them into dialogue with the mainstream more than […]
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Former Bank of China vice president says digital currencies can be a substitute for cash on circulation. The former vice president of China’s central bank pushed for central bank digital currencies positioning it as a substitute for cash in circulation. Wang Yongli, former vice president of Bank of China and a director of the Haixia […]
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The digital asset is now experiencing what may be a historic rise in acceptance, as the COVID-19 pandemic revealed its needs. On July 22, 2020, the United States Office of the Comptroller of the Currency published a letter clarifying that national banks and federal savings associations can indeed take custody of cryptocurrency assets. In the letter, […]
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The state of stablecoins: Demand for stablecoins continues to grow amid financial uncertainty. As a new COVID-19 stimulus bill is debated in the United States Senate and Bitcoin (BTC) begins to bounce back from its volatility lows, the demand for stablecoins continues to grow. Powered both by the stability that they provide to tokenholders and […]
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