#store of value News

Cryptocurrency as an Economic Enabler in Sanction-Struck Cuba

September 13, 2019 by Ashwath Balakrishnan at Bitcoin

Cuba has long been subjected to American sanctions for long-standing problems with the communist government. According to sources at Reuters, Cubans are using cryptocurrencies as a means of overcoming the barrier of economic sanctions and participating in international trade, September 13, 2019. Ascending Above Authority Bitcoin today is largely covered by...

Bank of England Senior Advisor: Cryptocurrencies Neither a Good Store of Value nor a Medium of Exchange

January 22, 2019 by Aisshwarya Tiwari at Altcoins, Bitcoin, Commentary, Finance, News

Huw van Steenis, the senior advisor to Bank of England (BOE) Governor Mark Carney believes that cryptocurrencies “fail fundamental tests” to compete with the traditional financial market institutions, reports Bloomberg on January 21, 2019. Cryptocurrencies Aren’t a Great Unit of Exchange Cryptocurrency proponents the world over are banking on the...

Weiss Ratings Releases 7 Cryptocurrency Forecasts for 2019

January 7, 2019 by Ogwu Osaemezu Emmanuel at Altcoins, Bitcoin, Investment, News

Weiss Ratings LLC, a financial rating agency made seven cryptocurrency forecasts for the year 2019 (Jan. 3rd) stating that bitcoin will still be used extensively as a store of value and the price of BTC will moon again, more promising projects will arise, and the value of some altcoins will...

Iran’s HCC Welcomes Bitcoin with Regulations

Iran Says Using Cryptocurrency Can Circumvent the Country’s U.S. Dollar Influence

May 21, 2018 by Shaurya Malwa at Altcoins, Bitcoin, Commentary, Finance, News, Regulation

Always in the news for political controversies, Iran is surprisingly emerging as a “cryptocurrency-friendly” nation. As reported earlier, Iranis use the bitcoin (BTC) route to remit money abroad, with the government taking steps to capitalize on the trend. Iran’s Cryptocurrency Push In an official statement given by the Central Bank...

Manager of Bank of International Settlements Adds Voice to Cryptocurrency Condemnation

February 8, 2018 by Priyeshu Garg at Bitcoin, Commentary, Finance, News, Regulation

Economist Agustin Carstens, the general manager of the Bank of International Settlements, voiced a low opinion of cryptocurrencies in his first public speech since his appointment in December. He called on authorities to clamp down before they become further entrenched in the international financial system. Speculative Mania, not a Currency...

A Single Bitcoin Surpasses the Price of One Ounce of Gold

March 2, 2017 by Nigel Dollentas at Bitcoin, Commentary, News

For the first time in bitcoin’s price history, one bitcoin had exceeded the value of an ounce of gold, an asset that is often compared to the cryptocurrency. Trading at $1260 at the time of writing, it is also a new all-time high for bitcoin as well. Is it time...

What is Going on with Bitcoin in Nigeria?

January 28, 2017 by Christoph Bergmann at Bitcoin, Commentary, News

The interest in Bitcoin explodes in Africa’s biggest economy. The government cripples the regular remittance industry and remains unable to stop the devaluation of the domestic currency, the Nigerian naira. But shady investments and the famous Nigerian ‘princes’ might play a role; which is why the central bank has partially...

Can Bitcoin Be Both a Payment Settlement Network & Store of Value?

November 1, 2016 by Joseph Young at Bitcoin, Commentary, News

A debate on Satoshi Nakamoto’s original vision on the Bitcoin network has surfaced on various online bitcoin communities and social media platforms. Some experts argued that bitcoin was designed to operate as a settlement network while others firmly believe that bitcoin is meant to be a store of value. Bitcoin...