Morgan Creek Digital co-founder and partner, Anthony Pompliano, expressed his view that the U.S. Federal Reserve may not quite be what it seems. His statement came in response to Robert Kiyosaki’s own claims about the Federal Reserve. “Robert's belief that the Federal Reserve is not a bank, not federal, and has no reserve is directionally correct,” Pomp told Cointelegraph when asked of his own opinions on Kiyosaki’s claims about the Fed. “This is an important point to make sure that people understand as they pursue a deeper understanding of how the economy and money works,” Pomp added. The Fed is …

The coronavirus pandemic has been changing the global economy, our lifestyle, our ways of interacting with each other and our vision of the future. The Cointelegraph team keeps working from home offices, and all the events we planned to participate in have been canceled. But there is still a lot that is happening in the crypto and blockchain field that needs to be covered, so the work keeps us occupied, and that helps us keep our spirits up. The impact of the quarantines and economic restrictions is felt throughout all of the places where we are based, waking up fears …

In an interview with Morgan Creek Digital founder, Anthony Pompliano, Chamath Palihapitiya, billionaire CEO of venture capital firm, Social Capital, said that now could be Bitcoin’s time to shine. “I think Bitcoin needed a moment like this for it to be relevant,” Palihapitiya said. “It’s still a speculative instrument, and it’s too speculative for it to be reliable,” he explained. Bitcoin is still too turbulent In his interview with Pompliano, Palihapitiya talked about a bevy of topics pertaining to the current global economy. In terms of replacing USD or other global currencies, Palihapitiya explained Bitcoin is still too volatile. “The …

The $2 trillion economic stimulus package the United States Congress passed on March 26 might not cause the Bitcoin (BTC) market to skyrocket just yet, but investors could see modest, gradual improvements starting in 2020. Wayne Chen, CEO of Interlapse and founder of virtual currency platform Coincurve, spoke to Cointelegraph on Wednesday regarding the outlook of Bitcoin following measures to help the U.S. economy recover. Stimulus package targeted at those without disposable income Even in the midst of a global pandemic, many crypto traders are expecting Bitcoin to reach all-time highs before 2021. Online searches for cryptocurrencies have increased as …

The amount of Bitcoin (BTC) held by crypto exchange BitMEX has fallen by 25% in the past few weeks. During the crypto bloodbath on March 12, Bitcoin (BTC) fell 50% from a price over $10,400 on March 12. Mass liquidations on BitMEX were believed to play a big role in the crypto crash. Ever since, the amount of Bitcoin held on the platform has decreased significantly. According to data collected by CoinMetrics, on March 13, BitMEX held approximately 315,000 BTC. This number has dropped to 244,000 BTC as of March 29. The amount of Bitcoin held by BitMEX has been …

Online purchases using Bitcoin (BTC), Visa, and some retail apps are down for the first quarter of 2020, spanning cryptocurrency and fiat currency transactions. With many around the world self-quarantining or otherwise recommended to stay inside to prevent the spread of COVID-19, one might assume there would be an increase in online purchases and deliveries. Yet with unemployment on the rise and an uncertain economic future, it seems consumers want to save their money rather than spend it. Bitcoin transactions rivaling those during crypto winter The crypto market is not exempt from this dearth of purchases. The number of daily …

Amid regulatory uncertainty for cryptocurrencies in Russia, a federal ministry introduced legislation that would legalize crypto and blockchain within a special regulatory environment. The Ministry of Economic Development of the Russian Federation has reportedly prepared a draft law that would allow the testing of cryptocurrency and blockchain developments within a special regulatory sandbox. Sandbox to unlock blockchain and crypto testing in eight industries According to a March 24 report by local news agency Izvestia, the draft law was introduced to the State Duma — the lower house of the Federal Assembly of Russia — on March 17. Izvestia reports that …

With vast swaths of the world markets in virtual lockdown amid the coronavirus pandemic, some predict that the shocks rippling through the global economy in early 2020 may yet come to dwarf the magnitude of the 2008 financial crash. Just as Bitcoin (BTC)’s creation is bound up with 2008 and the Great Recession, Galaxy Digital founder Mike Novogratz sees this year as make-or-break for the cryptocurrency. In a tweet posted on March 22 — just hours after the United States Congress failed to reach a bipartisan agreement on a proposed $2 trillion economic support package — Novogratz wrote: “$BTC will …

Two of the best-performing currencies since the March 12 meltdown have been the United States Dollar and Bitcoin. In times of economic turmoil, investors shed riskier assets and acquire less volatile ones. This is known as “flight to quality.” This happened in 2008 when the global demand for U.S. government bonds resulted in negative interest rates, and may be happening now with Bitcoin. Bitcoin closed at $4,970.79 on March 12. However, on March 19, it rebounded 25% to $6,191.19. Meanwhile, the USD has been gaining on its main competitors for global dominance: Euro, GBP, AUD, and CAD, amongst others. Source: …

Philip Salter, head of operations at Genesis Mining, believes that economic meltdown may lead to a growing value for Bitcoin as a hedge against the banks. In the last couple of weeks, there has been a lot of turmoil in the Bitcoin world. There was a rapid decline in hashrate, followed by an even more precipitous price drop. This was particularly troublesome in view of the impending halving. Cointelegraph has had an in-depth conversation on these topics with one of the most prominent figures in the Bitcoin mining space, Phil Salter. Bitcoin miners have margin calls too Speaking on whether …

An apocalyptic account of Goldman Sachs ‘investee call’ went viral on social media faster than the coronavirus — and now the investment bank wants to set the record straight. The story snowballed after first being reported in a Reddit post on March 15. It has since been shared countless times in Telegram and other social media. User ‘nottodaymonk’ posted that his friend had just “got off a Goldman Sachs Investee call where 1500 of their investee companies dialed in”. He listed several “takeaways” from the call, the most significant of which was a prediction of “global health and economic collapse” …

The U.S. Federal Reserve injected $168 billion into finance several days ago, which correlates to Bitcoin’s current falling price. “So long as the broader markets keep falling – expect the same out of Bitcoin,” Bill Herrmann, CEO of alternative investment firm Wilshire Phoenix told Cointelegraph as part of an explanation of the Fed’s recent actions. What’s going on in the market? Traditional markets have plummeted recently surrounding coronavirus fears and oil trade wars. After several previous red days, the Dow Industrial Average (DJI) fell 10% on March 12, concluding the most disastrous day U.S. markets have seen since the Black …