Does US Dollar Need to Collapse for Bitcoin to Hit $200K? Bitwise Says No

October 31, 2024 Bitcoin.com

Bitcoin

Bitwise’s chief investment officer predicts bitcoin could reach $200,000 without a U.S. dollar collapse, outlining a path for the cryptocurrency to surge toward unprecedented highs. Bitcoin’s Path to $200K: No Dollar Collapse Required The chief investment officer of asset management firm Bitwise, Matt Hougan, addressed bitcoin’s potential to reach a $200,000 valuation without a collapse […]

Russia adopts Bitcoin, crypto assets for cross-border transactions, finance minister says

Unexpected Moment: Treasury Sign Falls as Yellen Confronts US Dollar Reserve Currency Concerns

October 29, 2024 Bitcoin.com

bitcoin.com

The Treasury Department sign fell sharply as Treasury Secretary Janet Yellen faced a tough question about the U.S. dollar’s reserve currency status being at risk. Treasury Sign Drops — Yellen Steadies Herself and Defends US Dollar’s Reserve Currency Status U.S. Treasury Secretary Janet Yellen discussed key elements of the U.S. economic strategy last week at […]

Russia adopts Bitcoin, crypto assets for cross-border transactions, finance minister says

Price analysis 10/22: SPX, DXY, BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA

October 22, 2024 Coin Telegraph

Bitcoin

Bitcoin is finding support in the $66,500 to $65,000 zone and Bitcoin ETF inflows suggest traders are buying the dips. Will altcoins follow?

Bitcoin (BTC) has slipped below $67,000 after closing last week above $69,000, its strongest close since the start of June. However, the fall has not scared away the investors. According to Farside Investors data, United States-based Bitcoin exchange-traded funds witnessed inflows of $294.3 million on Oct. 21.

Usually, after the price spends a long time in a range, it needs a strong trigger to break out from the sideways price action. The upcoming United States elections could act as a catalyst for a new trending move in Bitcoin. Many believe that a victory by the former US president and Republican nominee Donald Trump could propel Bitcoin higher.

Daily cryptocurrency market performance. Source: Coin360

Russia adopts Bitcoin, crypto assets for cross-border transactions, finance minister says

Stablecoins can benefit financial system, Fed governor says

October 18, 2024 Coin Telegraph

Coin Telegraph

The United States national debt has crossed $35 trillion, with $500 billion added to the government debt in the last two weeks alone.

On Oct. 18, Federal Reserve Bank Governor Christopher Waller told an audience at the Institute of Advanced Studies that well-regulated stablecoins could benefit the current financial system.

“Stablecoins can reduce the need for payment intermediaries and thereby reduce costs of payments globally,” Waller stated, but immediately qualified his remarks by saying that stablecoin “Safety is not assured.” The Fed official explained:

Waller also noted that decentralized finance can achieve a symbiotic relationship with traditional finance instead of supplanting it altogether. This viewpoint was previously pitched by some US lawmakers, who argue that decentralized finance and dollar-denominated stablecoins can extend dollar dominance by decades.

Russia adopts Bitcoin, crypto assets for cross-border transactions, finance minister says

US lagging behind in global stablecoin adoption — Chainalysis

October 17, 2024 Coin Telegraph

Bitcoin

Growing demand for US dollar-backed stablecoins and regulatory uncertainty in the US are the key reasons for stablecoins thriving in other jurisdictions.

The United States has seen record Bitcoin activity since the launch of spot BTC exchange-traded funds (ETFs). However, stablecoin adoption in the US has slowed in 2024 compared to global markets, according to an Oct. 17 report from Chainalysis.

US markets have recorded a significant shift in stablecoin activity this year, with the share of stablecoin transactions on US-regulated exchanges dropping from roughly 50% in 2023 to below 40% in 2024.

In contrast, the share of stablecoin transactions on non-US regulated platforms has surged since 2023, breaking 60% in 2024, according to Chainalysis’ latest report on crypto adoption trends in North America.

Russia adopts Bitcoin, crypto assets for cross-border transactions, finance minister says

Russian Finance Minister: Western Policies Hurt the US Dollar

October 12, 2024 Bitcoin.com

Anton Siluanov

Russian Finance Minister Anton Siluanov believes that the policies of the US and its Western allies are affecting the role of the U.S. dollar as a reserve currency. Siluanov stated that while the U.S. dollar will remain popular, the BRICS bloc will develop a solution using digital financial assets to replace it. Russian Finance Minister […]

Russia adopts Bitcoin, crypto assets for cross-border transactions, finance minister says

India Denies Targeting US Dollar as Dedollarization Reshapes Global Trade

October 8, 2024 Bitcoin.com

alternative settlements India

India’s External Affairs Minister S. Jaishankar clarified that the country is not targeting the U.S. dollar in its economic policy, despite shifts in global trade and currency usage. Speaking in Washington, he emphasized that India’s trade adjustments are driven by practical concerns related to partners with dollar shortages, not a strategic effort to undermine the […]

Russia adopts Bitcoin, crypto assets for cross-border transactions, finance minister says

$0.10 Coin Hits $295,000 at Auction – Why Investors Are Battling To Buy a Single US Dime

October 8, 2024 The Daily Hodl

Cash

Bidders have pushed the price for a rare US dime to a staggering $250,000 – and they’re likely just getting started. If past is prologue, the online auction for this 1975 dime will close at more than half a million dollars when it ends on October 27th. The rare dime is missing the letter “S”, […]

The post $0.10 Coin Hits $295,000 at Auction – Why Investors Are Battling To Buy a Single US Dime appeared first on The Daily Hodl.

Russia adopts Bitcoin, crypto assets for cross-border transactions, finance minister says

Jim Rickards: Gold Might Avoid Crypto Substituting the US Dollar

October 7, 2024 Bitcoin.com

bitcoin.com

Renowned economist Jim Rickards explained that buying gold to back the dollar would restore confidence in the currency, avoiding a long-term decline. He stated that the currency should not be taken for granted, as new forms of money like crypto will step in as old money fails. Jim Rickards: Treasury Should Buy Gold to Avoid […]

Russia adopts Bitcoin, crypto assets for cross-border transactions, finance minister says

BRICS Mulling ‘Petroyuan’ in New De-Dollarization Attempt Ahead of Next Summit: Report

October 7, 2024 The Daily Hodl

brics

The BRICS alliance is reportedly considering a new “petroyuan” in its latest move to compete with the world dollar hegemony. BRICS, which was originally launched as a coalition of Brazil, Russia, India, China and South Africa, has since welcomed several other countries into its union and is looking at taking its next steps at a […]

The post BRICS Mulling ‘Petroyuan’ in New De-Dollarization Attempt Ahead of Next Summit: Report appeared first on The Daily Hodl.

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