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Michael Saylor, Executive Chairman at Microstrategy and known bitcoin proponent, gave his personal prediction about the long-term price of the cryptocurrency. On CNBC’s Squawk Box, Saylor stated that BTC would reach $13 million in 21 years and explained that, at some point in the future, bitcoin would trade at S&P 500 volumes plus 8% due … Read more
During his speech at the Eastern Economic Forum, President Vladimir Putin stated that Russia had become one of the world leaders in bitcoin mining. He explained that this was made possible due to the energy surplus that can be leveraged in areas like Siberia, but also warned that these activities should not hinder the region’s … Read more
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the past week. In this issue, Venezuelan opposition leader María Corina Machado proposes creating a bitcoin reserve, Venezuelan President Nicolás Maduro states that the country must retake the crypto path, and a GAFILAT report indicates that bitcoin has not … Read more
Russia will prioritize using its energy for social development instead of Bitcoin mining, according to the Ministry of Energy. Energy Minister Sergei Tsivilev stressed that if there is a surplus in certain areas, this power can be supplied to legal and registered energy miners operating outside the “gray” zone. Russia Will Not Prioritize Supplying Energy … Read more
The Financial Task Force of Latin America (GAFILAT) released an evaluation of the state of El Salvador regarding compliance with international anti-money laundering requirements. The institution found that, while El Salvador included bitcoin as legal tender in 2021, the crypto asset has not reached a ‘significant impact’ or elevated transactional volumes. Financial Task Force of … Read more
Welcome to Latam Insights Encore, a deep dive into Latin America’s most relevant economic and cryptocurrency news from last week. In this edition, we discuss how other countries can learn to use bitcoin as a rebranding tool, following El Salvador’s example. Latam Insights Encore: Other Countries Can Also Use Bitcoin as a Technological Rebranding Tool … Read more
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the past week. In this issue: Salvadoran President Nayib Bukele acknowledges that bitcoin rebranded the country, some bitcoin mining companies have stopped operating in Paraguay after the recent power fee hikes, and Argentines lead Latam in stablecoin adoption. Bukele … Read more
President Nayib Bukele pondered how El Salvador adopted the bitcoin banner and evaluated how it has fared for the country so far. In a recent interview given to Time magazine, Bukele admits that while Bitcoin adoption has not grown as he expected, adopting bitcoin as a legal tender worked as a rebranding for the nation. … Read more
A recent report by Bitso, one of the largest crypto exchanges in Latin America, found that Argentines were especially inclined to use and purchase stablecoins over other cryptocurrencies. Six out of every ten cryptocurrency purchases in Argentina involved stablecoins during Q1 and Q2, as these are used as a hedge against inflation and devaluation. Bitso: … Read more
A report presented to the Paraguayan Congress highlights the low level of employment associated with the country’s bitcoin mining activity. According to data from the Social Care Institute, the entire bitcoin mining industry is responsible for only 383 direct jobs, with over 40 companies not reporting any workers directly associated with their operations. Paraguayan Bitcoin … Read more