economics

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Spanish Treasury Secretary Says Cryptocurrencies Carry a ‘Risk of Default’, Repeats Bank of Spain’s Lack of Regulation Rhetoric

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The government of Spain continues to harden its stance against widely adopting cryptocurrencies. The Spanish Secretary of State for the Economy recently expressed her concerns on risks that she thinks cryptos possess for the national economy. Secretary Doesn’t Like Bitcoin as It Cannot Be ‘Supervised or Sanctioned’ During the Online Fintech Summit 2021, Ana de … Read more

Haunted by Past Elon Musk Predictions, Gold Bug Peter Schiff Tears Into Tesla’s BTC Acquisition

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After previously claiming that Elon Musk was too smart to buy bitcoin, Euro Pacific Capital CEO Peter Schiff is reacting angrily to reports that Tesla has acquired the cryptocurrency. In a series of tweets on February 8, Schiff now claims that Musk has no interest in bitcoin’s store of value credentials but is only interested … Read more

Bitcoin Bull-Run Boosts Sales of a French Premium Wine Retailer Despite the Coronavirus Pandemic

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A French wine trading firm has been favored by the recent crypto bull-run, specifically with the bitcoin prices surging across the board. Despite the pandemic, Lasserre & Papillon is making good numbers after founding BTC Wine. BTC Wine Was Launched During the 2017 Crypto Prices’ Rally Per an article published by Drinks International magazine, the … Read more

An Aggregated List of Cryptocurrency ‘Fair Values’ in 2021 Gives a Different Perspective

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During the last decade, cryptocurrency users have leveraged a number of coin market capitalization aggregators, in order to check in on a crypto asset’s price and the project’s overall market valuation. However, there’s also a number of crypto price aggregators that follow a different method of recording market caps, in contrast to multiplying the supply … Read more

Bank of Singapore Says Cryptocurrencies “Could Replace Gold as a Store of Value” but Unlikely to Displace Fiat Currencies

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A new research note released by the Bank of Singapore (BOS) suggests that cryptocurrencies are likely to replace gold as a store of value. However, the note says it is unlikely that such digital currencies can replace fiat currencies even as their appeal grows. Inefficient Unit of Exchange According to the research note, it is … Read more

Former US Treasury Secretary Larry Summers Says Bitcoin ‘Is Here to Stay’

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Former U.S. Treasury Secretary and economist Larry Summers says bitcoin is here to stay despite the concerns by some that it may be a bubble. The former secretary asserts that bitcoin’s price fluctuations are in fact a sign of its resilience. In his latest comments about bitcoin, Summers, who in 2016 became a senior adviser … Read more

Ecuadorian Presidential Candidate Proposes a National Cryptocurrency but It Won’t Replace the Dollar

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An Ecuadorian presidential candidate hinted at creating a cryptocurrency in the country as part of its government agenda. Giovanny Andrade said that the national crypto aims to “facilitate” transactions across the country. Crypto Could Be Backed by Gold During an interview with Primicias, Andrade, representing the Union Ecuatoriana party, believes its cryptocurrency idea is a … Read more

Steve Forbes Says Bitcoin’s Fixed Supply Limits Its Ability to ‘Meet the Needs of a Growing Economy’

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American publisher Steve Forbes has attacked bitcoin’s fixed supply saying this feature actually curbs the ability of the crypto to “meet the needs of a growing economy.” He also argues that bitcoin cannot replace the dollar because it is presently too volatile to function as money. Forbes insists that money only works best if it … Read more

IMF Tells Governments: Spend as Much as You Can and Then Spend More

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The head of the International Monetary Fund (IMF) has called on countries worldwide to spend as much as they can and then spend more. She admitted that this is a “very unusual” policy for the IMF but it is needed to revive economies. Many people are interpreting her statement as very bullish for bitcoin. IMF … Read more