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satoshin • Jul 20, 2023, 10:55 am EDT

El Salvador’s Bitcoin Experiment: Bonds Surge 62% Amid Rally

In defiance of traditional financial wisdom and rating agencies, El Salvador, the first country to adopt Bitcoin as legal tender, has seen its junk-rated bonds surge by 62% in the last six months. Despite Moody’s and Fitch downgrading El Salvador’s debt rating and predicting a debt default in January 2023, the market has expressed a different sentiment.

2 minutes

johnd • Jul 17, 2023, 3:52 pm EDT

A Historical Precedent for BRICs New Gold Backed Currency

After months of deliberation regarding multiple potential commodity and currency baskets, it appears a consortium led by China and Russia has finally settled on using gold as the foundation for a new international currency system. This system is poised to operate independently from the euro and the U.S. dollar, a remarkable shift in the global economic landscape. State-funded Russia Today recently hinted that the introduction of this initiative could be on the docket at an upcoming meeting of leaders from Brazil, Russia, India, and China this August. Such a development seems to echo the past, specifically the historic Bretton Woods

4 minutes

arusso • Jul 17, 2023, 12:48 pm EDT

Russia and Southeast Asian Nations Eye De-dollarization in Trade Settlements

In a paradigm-shifting move, Russia is discussing the use of national currencies in trade settlements with 10 Southeast Asian nations, as revealed by Russian Foreign Minister Sergey Lavrov. These nations are members of the Association of Southeast Asian Nations (ASEAN), comprising Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. The discussions come amidst a global push to “de-dollarize” economies and reduce dependence on the US dollar, particularly among nations looking to assert greater autonomy in the global financial landscape. The shift aligns with Russia’s goal of promoting a multipolar world order, a stance the country maintains despite

3 minutes

satoshin • Jul 10, 2023, 12:21 pm EDT

BRICS Leads Global Shift towards a New Gold-Backed Currency

According to state-run RT, the Russian government has confirmed that Brazil, Russia, India, China and South Africa (BRICS nations) will introduce a new trading currency backed by gold. “The official announcement is expected to be made during the BRICS summit in August in South Africa.” Neils Christensen for KITCO Over 41 nations have announced they will accept the new currency signaling that we are on the verge of a significant financial pivot as the countries’ potential alliance within BRICS is leading the movement towards a new gold-backed currency. Thorsten Polleit, Chief Economist at Degussa, analyzing the move, stated that a

3 minutes

satoshin • Jul 9, 2023, 5:23 pm EDT

New Report Shows Cryptocurrency Industry Employs Nearly 200,000

A recent report suggests the cryptocurrency industry employs almost 200,000 people across 10,000 companies valued at $180 billion collectively.

2 minutes

satoshin • Jul 8, 2023, 12:44 pm EDT

China’s Central Bank Continues to Bolster Gold Reserves Amid Economic Uncertainties

China’s central bank, the People’s Bank of China (PBOC), has increased its gold reserves for the eighth consecutive month, demonstrating its growing intent to lessen its reliance on the US dollar amidst a climate of economic and geopolitical volatility.

3 minutes

arusso • Jul 7, 2023, 11:37 am EDT

Economist Saifedean Ammous Advocates for Capitalism and a Stable Money Supply in Latest Book

Internationally acclaimed economist and author Saifedean Ammous is challenging conventional economic thought with his latest book, “Principles of Economics.” Building on his prior best-selling books on bitcoin and fiat currency, Ammous makes a case for the virtues of capitalism and the importance of a stable money supply in his newest publication, offering a comprehensive look at economics through the lens of the Austrian school of thought. In a recent interview on the Coin Stories podcast, Ammous delved into the foundations of capitalism, explaining why he believes it to be not just a beneficial, but necessary economic system. He argued that

2 minutes

tinam • May 28, 2023, 2:51 pm EDT

Bitcoin in El Salvador: A Success or a Failure?

Despite much negative press, data shows that the bet on Bitcoin by El Salvador’s leaders is bearing fruit. Research in May 2023 shows how 1.9% of remittances, or about $96 million, were sent via crypto eight months after the nation adopted Bitcoin as a legal tender. Data shows that while remittance fees to El Salvador were already relatively low (2.85%), Bitcoin’s fees were nearly half as much on average, which meant Salvadorians saved nearly $4 million in remittance fees, according to CoinDesk, by switching to Bitcoin in the eight-month timeframe. Others argue that El Salvador’s Bitcoin pivot is helping bring tourism to the country. Visits were up 81% in May 2023 from 2022, relative to pre-pandemic levels. Research shows that overall GDP could rise by at least 3% if this trend continues. A jump of this magnitude would be transformative, as about 5% of the nation’s GDP comes from tourism. Travel guide leader Lonely Planet has already rated El Salvador as one of its 11 countries to visit in 2023.

4 minutes

tinam • May 9, 2023, 1:54 pm EDT

Bitcoin Is The Way Forward As The Banking Crisis Worsens

As the global banking crisis continues to worsen, the value of decentralized cryptocurrencies like Bitcoin becomes clear. Without the need for centralized banks, Bitcoin allows individuals to take control of their finances and protect their assets. As traditional financial systems struggle to keep up with the ever-changing technological landscape, Bitcoin represents a way toward a more secure and decentralized financial future. It’s time to embrace the power of Bitcoin and take control of our financial destiny amidst the ongoing banking crisis.

3 minutes

satoshin • Aug 23, 2017, 11:53 am EDT

Bitcoin is Not Bubble Says John McAfee in Interview with RT

Cybersecurity expert John McAfee explained why Bitcoin is not a bubble. In an interview with RT, McAfee defended Bitcoin from people saying it is a Bubble stating that it is not and it will continue to grow. Known for his bold predictions that Bitcoin will reach $500,000 within three years, he’s confident that Bitcoin cannot be considered a bubble. Bitcoin is not a fiat currency Asked why the word “bubble” cannot be applied to Bitcoin, McAfee explained that Bitcoin is not a fiat currency. John McAfee, Founder of McAfee Inc. says: “Bitcoin is not a fiat currency. It costs over a thousand

2 minutes