When the Square mastermind declared hyperinflation was coming to the US, the world shook. With a single tweet, Jack Dorsey lit a fire that keeps on burning. In that first article, NewsBTC compiled the first reactions to this dangerous idea. Then, we told you about Peter Schiff’s unimaginative response. Now, it’s time for the big…
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Twitter and Square CEO Jack Dorsey has warned that hyperinflation will soon happen in the U.S. and elsewhere in the world. “Hyperinflation is going to change everything. It’s happening,” he predicted. Many people disagreed with him, however. US Will Soon Experience Hyperinflation, Says Twitter CEO Jack Dorsey The CEO of Twitter and Square Inc., Jack…
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Jean-Pierre Verster, the founder of a South African hedge fund Protea Capital Management, has said he does not believe there is “intrinsic value” in cryptocurrencies. He insists that cryptocurrencies have “elements of a Ponzi scheme” and for that reason, he has not invested in them.
A ‘Wonderful Technology’
In remarks made during an interview,…
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The Zimbabwean currency’s collapse in 2008 and record hyperinflation are widely seen as textbook examples of what can go wrong with a centralized currency. For instance, some cryptocurrency enthusiasts — as well as opponents of the fiat currency system in general — have routinely pointed to the Zimdollar’s collapse when arguing for an alternative monetary…
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Global stablecoin adoption and uncontrolled hyperinflation in Venezuela and Argentina have helped push Reserve Rights to a new all-time high. Non-fungible tokens and high-yielding decentralized finance platforms have been the focus of attention in the cryptocurrency sector for the past few months. This intense focus on NFTs, DeFi and Bitcoin’s price action means that some…
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Iran is set to redenominate its fiat currency, removing four zeros to create a new fiat called toman as demand for crypto is surging. Ravaged by crippling hyperinflation, Iran’s Parliament has sanctioned the redenomination of its fiat — the rial — by replacing it with a new currency called the toman. According to the plan,…
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Iran’s parliament votes to institute a new currency as coronavirus and sanctions hyperinflate the rial and local Bitcoin prices skyrocket relative to official exchanges. Per a May 4 report from local outlet Mehr News, Iran’s new ‘Reforming Monetary and Banking Law’ has passed in parliament. The new law dictates the transition from rial to the…
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Colombian startup Valiu has launched its ‘cryptodollar’ — Bitcoin-backed synthetic USD that Venezuelans can use for payments and remittances. Colombian-based cross-border remittance start-up Valiu has launched Bitcoin-backed synthetic U.S. dollars as a means for Venezuelans to access stable assets and bypass the hyperinflation plaguing their national economy. It’s still in Alpha, but Valiu has partnered…
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