Saturday, November 26, 2022

Mark Nestmann: Gold Comes Roaring Back (at Bitcoin’s Expense)

by John Rubino, Dollar Collapse:

From Nestmann.com:

Just 15 months ago, pundits were asserting that bitcoin had matured into its own separate asset class from stocks, bonds, and other traditional investments. At the same time, conventional stores of value like gold simply couldn’t keep up with the price momentum of bitcoin and other cryptocurrencies.

Indeed, Bloomberg Quint published an article in December 2020 entitled, “Bitcoin’s Rally Spurs Wall Street to Question Future of Gold.” It pointed out that many investors had cashed in their gold holdings for bitcoin. Numerous hedge funds and family offices had done the same.

EXXON IS MINING BITCOIN WITH EXCESS GAS: REPORT

by Namcios, Bitcoin Magazine:

The largest U.S. oil producer Exxon Mobil is considering expanding its North Dakota bitcoin mining pilot program to further reduce the volume of natural gas it routinely burns off or flares into the atmosphere, Bloomberg reported Thursday.

People familiar with the matter told the news outlet that the oil giant has an agreement with Crusoe Energy Systems to redirect gas that would otherwise be wasted from an oil well pad to mobile bitcoin mines. The report said the pilot project launched in January 2021 in North Dakota’s Bakken and expanded in July; now, it consumes up to 18 million cubic feet of gas per month that Exxon couldn’t otherwise monetize.

‘Good Money’ Day: El Salvador Becomes First Bitcoin Country in the World

from 21st Century Wire:

Today, September 7, 2021, is a landmark day for the future of El Salvador and its people’s financial sovereignty as the tiny Central American country stands tall by becoming the first nation in the world to adopt Bitcoin as a legal currency.

El Salvadorans can now officially use the cryptocurrency instead of dollars and have the legal backing of their home country as they chart a new path towards greater financial freedom from a fiat money system that is centrally controlled and has for far too long controlled them.

El Salvador: ‘Don’t Believe IMF – We’re Doing Great, Thanks to Bitcoin’

from 21st Century Wire:

Don’t believe the gloom and doom speeches from the IMF.

Another signal of progress: Bitcoin Beach is now becoming ‘Bitcoin City.’

The people of El Salvador are dreaming of a positive future again.

In this episode of the Keiser Report, hosts Max and Stacy look at the IMF’s recent trolling El Salvador about adopting Bitcoin as legal tender, and the progress made by the new government to create a more financially independent nation. Max also speaks to Roman Martinez, one of the original organizers at Bitcoin Beach, about the IMF’s concerns, their new “Volcano bonds,” and whether or not he believes Bitcoin will harm or help the local community in the long run. Watch: 

Central Bank of Brazil Chooses Nine Institutions to Study Digital Real Possibilities

by Sergio Goschenko, Bitcoin:

The Central Bank of Brazil and Fenasbac, the National Federation of Associations of Central Bank Servers, decided to select nine projects to monitor and support their different proposals for the application of a hypothetical Brazilian central bank digital currency (CBDC), the digital real. Projects from companies and organizations like Aave, Banco Santander, and Mercado Bitcoin were selected to be developed as examples of how a digital real could be used.

JUST IN – #Bitcoin, cryptocurrencies have soared following the premature release of a U.S. Treasury statement on Biden’s expected executive order on digital assets.