by Martin Armstrong, Armstrong Economics:
People continue to ask if Bitcoin will replace the dollar. They believe that the recent surge in Bitcoin indicates that it will topple the USD as the world’s reserve currency, but that is merely propaganda. You must understand that Bitcoin is simply a trading vehicle, not a currency. I cannot stress that point enough. My opinion has been unpopular, and clients have walked away due to my stance on crypto. That’s fine, as I am not in this for the money. I can only adequately inform my clients of the unbiased truth and hope that those willing to listen will heed the computer’s warnings.
Pradeep Bhandari, spokesperson for India’s ruling BJP party, called for a Bitcoin reserve pilot and clarity on the country’s “taxed but unregulated” approach to crypto.
BIS says stablecoins fall short on key monetary principles, warning of financial crime risks and threats to monetary sovereignty.
Do we need more stablecoins?
