Month: June 2021

Bank of America Survey: Most Fund Managers Say Bitcoin Is a Bubble, Inflation Is Transitory

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The latest Bank of America’s Global Fund Manager Survey shows that “long bitcoin” is now the second most crowded trade. Moreover, most fund managers believe bitcoin is in a bubble and agree with the Fed that inflation is transitory. Bank of America’s June Fund Manager Survey Bank of America (BofA) released its June Global Fund … Read more

Central American Bank for Economic Integration to Help El Salvador Implement Bitcoin as Legal Tender

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The Central American Bank for Economic Integration (CABEI), which has 15 member countries, will help El Salvador implement bitcoin as legal tender. The CABEI president has expressed his support. “We’re very optimistic,” he said. Central American Bank for Economic Integration Supports El Salvador’s Bitcoin Law The head of the Central American Bank for Economic Integration … Read more

General Motors CEO: ‘Nothing Precludes GM From Accepting Bitcoin if There’s Consumer Demand’

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The CEO of General Motors (GM), America’s largest automaker, says that nothing precludes her company from accepting bitcoin if there is consumer demand for it. “Certainly, we want to make the whole buying and ownership experience as easy as possible,” said the GM chief executive. GM Will Accept Bitcoin if There’s Demand, CEO Indicates Mary … Read more

Fed Expects 2 Rate Hikes in 2023, Stock Market Plunges, Powell Anticipates Higher Inflation

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The Federal Reserve on Wednesday told the public that it has forwarded the time frame for raising interest rates. “Progress on vaccinations will likely continue to reduce the effects of the public health crisis on the economy, but risks to the economic outlook remain,” the Federal Open Market Committee (FOMC) said in a statement. The … Read more