Ongoing Economic Crises in Venezuela and Beyond Show That the Idea of Bitcoin as a Store of Value Is Increasingly Catching On

Ongoing Economic Crises in Venezuela and Beyond Show That the Idea of Bitcoin as a Store of Value Is Increasingly Catching On

From Venezuela to India, crypto is being increasingly used in times of economic crisis. Just when it seemed like the economic and political situation in Venezuela couldn’t get much worse, it has. Back in December, the Venezuelan bolívar witnessed its peak annual inflation rate for 2018, with this rate coming in at a dizzying 80,000 percent, according to the calculations of Steve Hanke of John Hopkins University. However, with the United States’ imposition of sanctions…

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Tether Tanks as Traders ‘Lose Trust,’ Other Cryptos See Price Boost

Tether Tanks as Traders ‘Lose Trust,’ Other Cryptos See Price Boost

Tether has dropped over two percent before its historical trading range, as the wider crypto market sees a solid boost. Monday, Oct. 15: Crypto markets are seeing solid growth, with virtually all of the major cryptocurrencies seeing green as of press time. An outlier in the space is “stablecoin” Tether (USDT), which has today lost its U.S. dollar peg and is trading well below its historical trading range as of press time.Market visualization by…

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