Central bank Governor Nandalal Weerasinghe believes that adopting decentralized cryptocurrencies would worsen the country’s economic situation. On a recent visit to Sri Lanka, American billionaire Tim Draper pitched the idea of adopting Bitcoin (BTC) as a legal tender to fight against the corruption that contributed to hyperinflation in the island country. However, a key Sri…
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Prices in Venezuela have been rising steadily even when denominated in foreign currency. According to data collected by Ecoanalitica, a market research firm, prices marked in dollars have grown close to 54% during 2022, affecting the income and savings of Venezuelans that have been using the U.S. dollar as an inflation hedge. Prices Grow Even…
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Bitcoin’s status as an inflation hedge has come under scrutiny in the current market, but experts point toward the exceptional market conditions. Bitcoin has been projected as many things since its inception in 2009. However, the most talked about aspects have been a fungible form of future money and an inflation hedge. The last Bitcoin…
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More people are using stablecoins to hedge against inflation, as they offer numerous benefits. Economies around the world are facing a motley of challenges caused by rising inflation. High inflation devalues national currencies, which, in turn, pushes up the cost of living, especially in scenarios where earnings remain unchanged. In the United States, the government…
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Since the start of the year, the crypto market’s performance has been considerably poorer than the S&P 500 and other popular indexes. There’s no denying the fact that the crypto market has been faced with an obscene amount of bearish pressure over the last eight odd months. Despite this, September has been especially turbulent for…
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Bitcoin is working as a hedge against inflation despite its 2022 weak price performance, says Steven Lubka, managing director of private clients at Swan Bitcoin. While Bitcoin (BTC) has failed in countering this year’s rampant global inflation, it should still be considered as an inflation hedge, says Steven Lubka, the managing director of private consumers…
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Crypto Jebb and independent market analyst Scott Melker agree that the crypto market’s toughest days still lay ahead. Discussion of the state of the crypto market has been a dominant headline over the past few weeks as non-crypto native media excoriate Bitcoin (BTC) and DeFi investors for investing in assets with no fundamental value. At the…
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The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says he’s waiting for the price of bitcoin to test $1,100. He added that he will buy more if the cryptocurrency recovers from that price level. Robert Kiyosaki on Bitcoin Testing $1,100 The author of Rich Dad Poor Dad, Robert Kiyosaki, has…
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As political leaders in crisis-hit Lebanon bicker over positions in the yet-to-be-formed government, the country’s runaway inflation rate surged to 211% in May 2022, new data has shown. Economist Steve Hanke insists that a currency board is a solution to Lebanon’s currency woes. Black Market in Fuel Driving Inflation The inflation rate in crisis-torn Lebanon…
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Podcaster and Bitcoin educator Natalie Brunell believes the current market turmoil could lead to regulation favoring Bitcoin over alts. Natalie Brunell, the host of Coin Stories podcast, thinks that the recent incidents involving Terra (LUNA, now rebranded LUNC) and Celsius (CELH) and the following market sell-off will lead to regulatory action that will likely favor…
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