The U.S. dollar has enjoyed status as global reserve currency status for decades, but with growing discontent for the greenback around the world in recent years, some speculate that a cryptocurrency could take over that role. Could it be Bitcoin or Ripple? The arguments that some experts are making aren’t as farfetched as you may think.
Late last week, the price of Bitcoin experienced one of its biggest spikes in recent history, surging by 42% in just 48 hours. Yet even a week later, market watchers are generally mystified as to what prompted the action. Several theories have emerged, and we break them down here. Which of these do you believe should get credit?
Image by USAF illustration/Sr. Airman Courtney Witt / CC BY 2.0 The IRS has issued some long-awaited tax guidance on virtual currencies. The new guidance comes on the back of the agency’s recent efforts to educate taxpayers on their tax-reporting obligations arising from the receipt, use, and disposition of crypto. This crypto tax guidance also comes…
Following in the footsteps of the Federal Reserve creating $210 billion out of thin air, Bitcoin edged even closer to its hard cap of 21 million tokens. If you’re not thinking about the implications for both the dollar and Bitcoin, find out here why this is so critical for the long-term prospects of each.
As the crisis in Hong Kong turns from bad to worse, citizens of the Chinese island are finding refuge in Bitcoin, thus highlighting some of the currency’s true benefits. What they are learning firsthand right now can be instructive for anyone.
Social and financial downturn has pushed Venezuela’s back against the wall. With sanctions holding back any meaningful progress for its citizens, the country has turned to digital assets as a safe haven, and to strengthen its global buying power.
Philadelphia’s Coinvention conference was held September 20-21, 2019, at the Loews Hotel in the heart of Center City. Read on for highlights and takeaways from BitIRA.
For cryptocurrency to be adopted on larger scale, it must be used to purchase products or services. Businesses are looking to payment processors to mediate these sales. One of the most popular crypto payment processors, BitPay, completes over $1 billion worth of crypto transactions annually. They have just added a Top 3 coin to their arsenal. Due to the company’s massive transactions volume and popularity, the inclusion of this new coin will likely translate to increased adoption of what was already an exceedingly popular token. Learn how this may play a crucial role in mass adoption.
For the past few years, Venezuela has been at the epicenter of corruption. With the value of the local currency inflating to astronomical levels, the people of Venezuela have been desperately trying to find a way to make ends meet. Amongst all the dismay, a savior has risen to attempt to bring back peace to the once flourishing nation. Find out more here.
For years, crypto advocates have predicted that tokens would one day replace fiat currencies. That potential future is now reality, as a tiny island nation in the Pacific has announced bold plans to use a new stablecoin as their primary form of currency. Find out why they’re making that move here.
