Tag Archives: federal reserve

While the perpetrators of the infamous Twitter hack from a few days ago remain unknown, popular cryptocurrency proponent Cameron Winklevoss believes that “we do know who continually hacks the US dollar – the Fed.”The Fed Hacks The USD?During the past few days, the world’s attention is focused on the bold Twitter hack, which had compromised many accounts belonging to famous individuals and companies. Despite the increased media coverage and numerous rumors, though, the perpetrators haven’t...

Virgin Galactic Chairman and Social Capital CEO Chamath Palihapitiya recently doubled-down on his advice that people should allocate at least 1% of their portfolio in Bitcoin as protection.He believes that if the asset skyrockets in value, it would be because of rather damaging world events and the lack of proper countermeasures by governments.Palihapitiya: BTC’s Lack Of Fundamental Correlation Is PositiveIn a recent podcast, the former Facebook executive noted that the US Fed and Treasury...

Max Keiser of RT news told viewers of the latest episode of the Keiser Report that the only way for black America to gain individual sovereignty is through saving money in Bitcoin.Max Keiser: Black America and BitcoinKeiser referenced the 2019 non-fiction book by Isaiah Jackson, titled Bitcoin and Black America, which claims to explore the synergy between black economics, Bitcoin and blockchain technology. Keiser summarized one of the book’s core messages, stating:“Black America will never be...

Former Wall Street hedge fund manager and prominent investor Mike Novogratz recently said that Bitcoin could break the coveted $10k mark soon and jump to $20,000.He also noted that the digitalization of money had begun worldwide, and the US needs to catch up with other nations such as China.Bitcoin To $20K, Says NovogratzNovogratz is the CEO of the cryptocurrency investment firm Galaxy Investment Partners and a long-time Bitcoin proponent. In mid-2019, he predicted that BTC would return to...

Many have gone back and forth regarding how to classify bitcoin. Is it money? Is it simply a speculative asset? How can it be used, and what are most people supposed to do with it when cash and credit cards remain so prominent?Bitcoin Is Money, According to Fed SentimentAccording to economists at the New York office of the Federal Reserve, bitcoin is like an extension of fiat money. In other words, it’s not a new type of money or even necessarily a new coin. Rather, it’s being described as an...

According to a new publication of the Federal Reserve Bank of New York, Bitcoin is not a new type of money. The authors argue that it’s a new type of exchange mechanism, capable of supporting money transfer.The well-known economist and author Peter Schiff backed up the claims, reiterating that once savers lose confidence in it, they will return to gold.Bitcoin is Not a New Type of Money, Fed SaysAccording to Bitcoin’s whitepaper, Bitcoin: A Peer-to-Peer Electronic Cash System, BTC is a...

Despite the lacking demand as of yet, the Bank of Korea (BOK) has set up a legal advisory group to review any legal issues before possibly launching a central bank digital currency (CBDC) in the future.BOK To Review Legal Matters Around CBDCAccording to a local report from today, South Korea’s central bank has established a group consisting of a six-member panel. Among those are law professors and legal practitioners, including lawyers and BOK’s legal policy office. They will provide...

At this point, it seems like $10,000 indeed is a coveted level for Bitcoin bulls. Another week passed, and we saw yet one more failed attempt to reclaim this level.Interestingly enough, it happened minutes after the US Federal Reserve concluded its two-day June meeting, confirming near-zero interest rates for the short- and medium-term. In light of the news, Bitcoin’s price shot up to $10,000, where it was met with strong resistance, and it dropped almost immediately.The following day,...

It looks like bitcoin may have been hovering at around $10K all over again, though at the time of writing, it has failed to cross that mark. In fact, the currency has fallen by about $300 or so.Bitcoin Rises and Falls… AgainJust yesterday, the currency spent the early morning hours meandering about the high $9,900 position. This was its highest position in a little over a week, but as we’ve seen before, $10K is proving to be yet another hardcore resistance point on the bitcoin ladder. On...

Brian Brooks, the former chief legal officer of Coinbase, was recently appointed to serve as the interim head at the Office of the Comptroller of the Currency (OCC) in the Trump administration.Brooks has shown openness to exploit the merits of blockchain and cryptocurrency at his new position, according to a recent interview.Trump’s Head Of OCC Likes Blockchain And CryptoBrooks served as the chief legal officer of the largest US-based cryptocurrency exchange from 2018 until just recently. He...