As the country struggles with soaring consumer prices and an inflation rate in the double digits, in an announcement to members of Turkey’s Parliament central bank governor Naci Agbal revealed that “conceptual” research had been completed on a Turkish central bank digital currency (CBDC), and that practical tests for such a currency would begin in the latter half of 2021. “There is an R&D project initiated on digital money,” said Agbal, according to two local outlets. “Currently the conceptual phase of this project has been completed. We aim to start pilot tests in the second half of 2021.” While the …

A new survey of global fund managers reveals that Bitcoin has climbed in the rankings of “most crowded trade” beating out traditional investments like gold and bonds. Bitcoin was third on the overall list of options for the category, named as the busiest trade by 15% of survey respondents. Only tech stocks (52%) and short dollar positions (18%) ranked higher. BofA Fund Manager Survey of the most crowded trades ht @jsblokland pic.twitter.com/KvlP8bTe7x — (@chigrl) December 15, 2020 The Global Fund Manager Survey was conducted by Bank of America Merrill Lynch between the period of Dec. 4 to 10 and asked …

The U.S. Dollar Index fell sharply today, extending a 10-month losing streak that places it at its lowest point since April 2018. International news agency Reuters marked the occasion with a story headlined: “Dollar plummets on U.S. stimulus hopes; Bitcoin hits all-time peak.” The article noted the tumble coincided with today’s news of a second COVID relief bill being discussed in Congress and the recommencement of negotiations between the United States Treasury Secretary Steve Mnuchin and House of Representatives Speaker Nancy Pelosi. The piece contrasted the falling dollar with the rising price of Bitcoin, which briefly surpassed all-time highs for …

Gold Bullion International co-founder Dan Tapiero believes that it’s only a matter of time before Bitcoin’s (BTC) price surges into the six-figure threshold. Speaking to Anthony Pompliano on the Pomp Podcast, Tapiero asserted that in terms of price appreciation, Bitcoin is king, even though he believes investors should own both gold and Bitcoin: “In the next five years, I can see gold at $4,000, so that’s double. But if gold is at $4,000, Bitcoin is probably somewhere between $300,000 and $500,000, so that’s a 20, 30x.” He went on to add, “I don’t really think that anyone in the gold …

Bitcoin's (BTC) price rose to almost $20,000 in 2017 before losing more than 80% of its value to a multi-year long bear market. In the years since, the asset has never again come close to these price highs — until now. At time of publication, crypto's first currency is once again trading a few percentage points away from its previous milestone. While crossing $20,000 may soon be celebrated as a psychologically significant threshold, Bitcoin will not actually reach its all-time high in terms of buying power at that point thanks to inflation. “If you bought #Bitcoin at the top in …

Strategic investor Lyn Alden believes Bitcoin’s growing network effect coupled with favorable macroeconomic factors may bring its market capitalization to $1 trillion in the next few years. Back in 2017, Alden was skeptical toward Bitcoin (BTC), as the network effect of the main cryptocurrency was still relatively weak: “I was concerned with dilution. [...] So, if there isn’t one network effect that retains control, you could see that kind of market cap distributed among multiple different protocols.” Three years later, Bitcoin has not only retained its market dominance but also its network effect is set to grow further. In fact, …

At the time of writing this article, around 3.6% of Bitcoin (BTC) is locked up in long-term holdings by institutional investors. According to the data, 13 entities have amassed close to 600,000 BTC — about 2.85% of all Bitcoins and worth approximately $6.9 billion. The list includes MicroStrategy at the top, with close to 38,250 BTC (about $450 million). The second on the list is Galaxy Digital Holdings with 16,651 BTC (about $198 million). The third, with 4,709 BTC, is the payment company Square Inc., founded by Twitter’s CEO Jack Dorsey. Separately, some companies help their clients invest in BTC. …

October is a time for surprises. On Oct. 8, right on cue, mobile payments giant Square, which boasts a market cap of $86.6 billion, announced that it had invested $50 million in Bitcoin (BTC). Five days later, asset manager Stone Ridge Holdings, which manages over $10 billion in assets, disclosed that it had purchased more than 10,000 BTC, worth around $114 million, as part of its treasury reserve strategy. They both followed MicroStrategy, a Nasdaq-listed asset manager, which made known last month that it had accumulated $425 million in Bitcoin, making BTC the principal holding in its treasury reserve strategy. …

“Fiat lux”, said God, having created heaven and earth, which was filled with darkness. And then, there was light. At least, that’s what the Holy Bible tells us. Translated to English, this Latin phrase means “let light be made.” For Christians, who much of the global population, these words mark the beginning of time and everything else. Eventually, there came a time when audacious, power-hungry, control-freak governments took the word “fiat” (literally meaning “it shall be” or “let it be done”) and used it to disguise one of the biggest shams ever — fiat currencies. Eons later, in 2009 A.D., …

Using the analogy of a Hi/Lo poker game — a variety of poker which crowns the highest and lowest hands as victors — broadcaster Max Keiser explained citizens will ultimately lose when it comes to holding government-issued currencies. "Unless you're a country, that can make money by debasing your currency, by getting kickbacks from Wall Street who packages all those currencies in the form of negative rate interest-rate bonds, then you only have one choice," Keiser said during an Oct. 15 episode of his show, the Keiser Report, adding: "You can only try to win the hand with the high …

Japan needs to adapt its laws to issue a central bank digital currency, according to a local financial official. Kozo Yamamoto, head of the Liberal Democratic Party’s council on financial affairs and a former official at the Ministry of Finance, believes that Japan must revise a law stipulating the Bank of Japan’s (BoJ) mandate and responsibilities regarding the development of a CBDC. According to an Oct. 12 Reuters report, Yamamoto said that potential amendments to the BoJ law would be a good opportunity to consider other changes like adding job creation to the central bank’s mandate. The official also stated …

Over the years, technology has improved by leaps and bounds, therefore making life more cost-effective and efficient. Such technological improvements, however, may not save citizens money as intended, due to inflationary efforts, according to Diginex CEO Richard Byworth. "Technology is just so deflationary on many of our goods and services," Byworth told Cointelegraph in an interview. Diginex stands as a company helping produce framework for blockchain and crypto solutions. Byworth remembers buying music albums on CDs decades ago, which sold for 16 pounds each, valued at approximately $25 in U.S. dollar terms at the time. Fast-forward to present day. Customers …