War-torn Afghanistan is looking into bitcoin to help rebuild the economy after it was left to dust. The goal is to use cryptocurrency as a new form of money in order to bring back the country in good shape and we read more in today’s latest cryptocurrency news.
The recent Spring Meetings summit in war-torn Afghanistan aimed to issue a sovereign bond or multiple bonds to raise $5.8 billion for new infrastructural projects. The governor of the Central Bank of the country told the Asia Times that the country would try to partner Bitcoin with the $3 million worth Lithium market. The final result will be a digitally signed government bond which investors can get over the blockchain.
The announcement comes after war-torn Afghanistan reached an economic turmoil over the past thirty years. The start of the crash started in the 1970s with a political coup that ended up with the assassination of the president Mohammad Dauod Khan. The tensions led to the Soviet Union invading the country. By the end of the 1980s, the entire country became a soil for fighting between the United States and the Soviet Union.
When the Soviets lost the war in 1989, the United States left the country in the hands of the Taliban which led to the destroying of the country. War-Torn Afghanistan was left with the Wahabbi Islamist group and became the leaders behind the terrifying 9/11 attack in the United States. The group led to the launch of the biggest wars against the Taliban and the United States.
The country was devastated and had its economy destroyed. The GDP of the country dropped during the 1980s by losing capital, transport, infrastructure and much more. War-Torn Afghanistan had its population fleeing the country and the ones who left are leaving in poverty. As the headlines in the best cryptocurrency news sites reported, Afghanistan’s external debt reached high risks. Reports by the International Monetary Fund noted:
“Even a gradual replacement of donor grants with loan financing (a customized illustrative scenario) would quickly lead to an unsustainable debt burden.”
Bitcoin could be the solution for the problem in war-torn Afghanistan since it offers a closer path to international markets.
Bitcoin Trademark Has Its Origins From The Escobar Family
“To avoid abandonment of applicant’s trademark application, the USPTO must receive applicant’s complete response to this letter within 6 months of the issue/mailing date below.”There was not a single reply so Craig Wright declared himself as the real Satoshi Nakamoto. Coin Legal Ltd’s original claim on bitcoin noted:
“Financial services, namely, providing a virtual currency for use by members of an on-line community via a global computer network.”Wright claim goes further:
“Cryptocurrency, namely, providing a digital currency or digital token for use by members of an on-line community via a global computer network; Cryptocurrency, namely, a digital currency or digital token, incorporating cryptographic protocols, used to operate and build applications and blockchains on a decentralized computer platform and as a method of payment for goods and services.”
Bitcoin Will Disappear: Craig Wright’s Hot New Manifesto
‘’I designed Bitcoin to be a system that worked within the rules. Bitcoin needs to act within the rules. If it doesn’t, then the exchange and systems that allow people to use bitcoin act to stop it being widely used and disseminated and criminalise all of those in the system.’’He also noted that every other monetary system such as BTC seeks to operate outside the rules, it becomes an outlaw system. Wright wrote:
‘’The majority of people want rules. They don’t want to fight in a world of uncertainty, and want to know the contract that they have conducted will remain valid not just now, but throughout the term of the exchange-for which we need rules.’’Also, as explained in the latest cryptocurrency news, Wright thinks that crypto exchanges are criminal enterprises and that they are the ones responsible for money laundering. He says that they will go out of business since ‘’crime always fails.’’ He even accused Bitfinex and Binance of lying to their customers because they are not decentralized. Wright explained that this is one of the reasons why bitcoin will disappear since many people tend to use decentralized exchanges so they can hide or launder money.
Stock Market Outperformed By Bitcoin By 10 Times This Year
‘’At this point, a $200 move in the price of Bitcoin could easily lead to a move of $2,000.’’The billionaire venture capitalist Tim Draper, spoke to CNBC and pointed out that the newly established brands which go public such as Uber, aren’t going to experience huge price growths. Instead, he expects that the stock market and its value will increase by 10 to 20 percent. Bitcoin bulls, on the other hand, don’t get a headache for the top-ranked cryptocurrency since BTC has so far remained close to the $8,000 price point despite the recent downturns. Mary Yusko, the Managing Director of Morgan Creek Capital Management, stated in an interview with one of the best cryptocurrency news sites and described BTC as a great investment portfolio diversifier. Many other commentators have stated previously that BTC will constitute at least one percent of every investment portfolio. Yusko also expressed his opinions similar to Pompliano’s saying that BTC is always a better investment than stocks. Back in 2019, Yusko spoke about the potential of the cryptocurrency saying it was the greatest wealth opportunity of our time. Bitcoin’s stock would be a great investment portfolio diversifier that could come into more significant prominence during a market decline. According to Yusko, the Federal Reserve and their comments on slashing interest rates show the awakening of the economic weakness. Central banks across the world are also on considering adding similar monetary policies. The history of price precedence shows that the rate cuts can lead to market weakness as it was in 2001 or 2008. For some people such as the bitcoin bull Max Keiser and Travis Kling, Bitcoin is a hedge against the fallback from the ‘’irresponsible’’ central bank policies.
Bitcoin Bull Max Keiser Predicts Bitcoin Will Reach $100,000
‘’The timing is immaterial. It is still going to outperform every other asset you can possibly imagine owning over the next 5, 10, 15 years. Forget about timing. Timing is for people who think that ‘I’m going to wait and buy it at a better price.’’ That is a bad way to approach crypto. Stack Satoshis!’’The reason why the Bitcoin Bull Max Keiser thinks that bitcoin will beat every other investment category is simple. So this means when an asset rises from $5,000 to $100,000 it is going to beat the returns of every other asset. He also believes that it is a bad idea to attempt timing the bitcoin’s rise. According to him, people should accumulate cryptocurrency rather than waiting for a better entry point. Keiser even recommended that people should not waste time into buying unnecessary gifts but instead should stack Satoshis. It is evident that he is a big-time bitcoin bull. He is also critical of the Federal Reserve and quantitative easing. He noted in the previous altcoin news that the FED’s inclination towards quantitative easing would lead to ‘’ money printing.’’ He also pointed out that the money printing problem can lead to hyperinflation and bitcoin will thrive in an environment like that. His comparison to gold is not the first of the kind. Asset management company Morgan Creek Digital says that the price of the number one asset will hit a stunning $500,000 because it is a better investment than gold. Keiser believes that people should buy and hold BTC because people can enjoy the gains of more than 1,100 percent if the predictions come true.
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