US Government Could Hold Bitcoin as Reserve Asset, Diam CEO Explains

Bryan Courchesne, CEO and founder of crypto investing firm Daim, has shared insights regarding how the U.S. government could start holding bitcoin as strategic reserve asset. “The Justice Department holds about 200,000 units of bitcoin so the United States is the largest holder of bitcoin, and so they could easily just move that over to … Read more

Spot Ether ETF Approval Expected to Enhance Crypto Asset’s Legitimacy and Utility, Says Hedera Council President

While lobbying is likely to play an important role in shaping crypto policy, just as it has done in the early days of most industries, Charles Adkins, President of the Hedera Council, believes showcasing the tangible benefits of blockchain technology is a far more sustainable approach. Therefore, instead of relying solely on lobbying efforts or … Read more

IMF Data Shows Decline in US Dollar Dominance

Recent data from the International Monetary Fund (IMF) points to an ongoing decline in the U.S. dollar’s share of allocated foreign reserves held by central banks and governments. Economists explained that reserve managers are attracted to nontraditional reserve currencies “because they provide diversification and relatively attractive yields, and because they have become increasingly easy to … Read more

Euro’s Reserve Currency Status Threatened as Its Share of Foreign Reserves Holdings Drops

A report from the European Central Bank indicated that the euro’s share of foreign exchange reserves declined by one percentage point to 20% in 2023. According to the report, the continued diversification of global reserve portfolios into nontraditional currencies threatens to further erode the euro’s share of foreign exchange reserves. Euro’s Decline Coincides with US … Read more

Analyst Forecasts BTC to Reach $1 Million in 10 Years, Envisions It as Future Reserve Currency

Onchain bitcoin analyst Willy Woo predicts that the leading cryptocurrency will reach the $1 million milestone within the next decade. During what he describes as “a time to be alive,” Woo anticipates witnessing a purge of central bank corruption. However, one of Woo’s followers envisions a Central Bank Digital Currency (CBDC), not bitcoin, replacing the … Read more

Morgan Stanley: US Dollar Has No Credible Challengers; Reserve Currency Status to Endure

The U.S. dollar is likely to remain the world’s dominant reserve currency due to the absence of credible challengers. Morgan Stanley suggests that the Chinese yuan, often considered a potential rival to the U.S. dollar, currently falls short and is unlikely to dethrone the greenback. Reserve Managers to Grapple With U.S. Dollar According to the … Read more

South African Minister Tells BRICS Nations Not to Rush Decision on Common Currency

The South African minister of international relations, Naledi Pandor, has urged Brazil, Russia, India, China and South Africa (BRICS) countries to be wary of making a hurried decision when they meet in August to discuss launching a common currency. Pandor said her country will “not shy away from discussions” that relate to her country’s national … Read more

Dollar Dominance Fading Amid Growing China Trade, Russia Sanctions Risks, Ray Dalio Says

Fewer nations are willing to hold the U.S. dollar as America’s share in the global economy becomes smaller while China’s role in international trade expands, billionaire Ray Dalio noted. The founder of the world’s largest hedge fund also said that Western sanctions on Russia have highlighted new risks of keeping dollar assets. ‘Dollar Is Debt,’ … Read more