Zimbabwe Bets on Gold-backed Digital Currency to Beat Inflation
The Reserve Bank of Zimbabwe plans to launch a digital currency backed by the country’s gold reserves and used as legal tender. The move aims to stabilize the Zim dollar, which has been losing value against the U.S. dollar. RBZ hopes people can exchange their Zim dollars for gold-backed tokens to protect their savings from […]
Bitcoin’s Inflation continues until it hits 1B wallets: Scaramucci
Before Bitcoin can function as an inflation hedge, according to the CEO of Skybridge Capital, it has to be much more widely used. Although Bitcoin remains a desirable asset, according to Anthony Scaramucci, CEO of Skybridge Capital, it has not yet attained the “wallet bandwidth” necessary to qualify as an inflation hedge. The CEO of […]
Crypto Plunge: Bitcoin Dashes Recovery Hopes as Prices Decline
The leading cryptocurrency by market capitalization falls along with traditional markets after Germany’s producer price inflation hit a record high of 37 percent. Bitcoin (BTC) dropped below $22,000 early on Friday, reversing the gains made after the U.S. Crypto Plunge came in lower than expected last week. This led to a drop in the rest […]
Double-Digit Inflation: UK Bitcoin Traders Express Concerns
The Bank of England could raise interest rates more quickly, which could make the dollar weaker and cause Double-Digit Inflation. The cost of living in the U.K. went up by 10.1% in July, according to a government report released on Wednesday. This is the first time since COVID-19 that the UK has hit Double-Digit Inflation […]
Serodino, Argentinian town considers investing in crypto mining to fight inflation
Serodino, in Argentina’s Santa Fe Province, is looking to start mining cryptocurrencies in order to raise funds for rail infrastructure upgrades according to the mayor Juan Pio Drovetta. According to local media reports from April 10, the 6000-person town has already purchased six graphics cards and will be purchasing a mining setup soon. The plan […]