BTC is losing its safe haven status to the dollar, with mutual funds increasing their cash holdings by $208 billion in the first half of 2022.
USD stablecoin premiums surge in Argentina following economy minister’s resignation
Argentina has been in a long-standing battle against rising inflation and a continued decline of the peso against the U.S. dollar.
Bitcoin’s inverse correlation with US dollar hits 17-month highs — what’s next for BTC?
Market pundits anticipate the dollar rally to either stall or correct by the end of 2022, benefiting Bitcoin.
Ethereum rises vs. Bitcoin despite crypto market rout — will ETH/BTC gain 50% by June?
ETH/BTC rallies to test its ‘ascending triangle’ pattern for a bullish breakout.
Stronger dollar prospects risk pushing down Bitcoin price to $32K
The U.S. dollar index could rally further in the coming weeks, which is typically bad news for Bitcoin.
XRP ‘mega whales’ scoop up over $700M in second-biggest accumulation spree in history
The so-called “mega whales” have accumulated over $712 million worth of XRP tokens since December 2021.
Boom or bust? Is there a way for Bitcoin price to hit $100K in 2022?
BTC price took an unexpected bearish turn in January, but are there any catalysts that could support a run to $100,000 in 2022?
Why Hillary Clinton Warns Biden Administration To Regulate Crypto Market
During an MSNBC interview, Hillary Clinton continued to suggest hypothetical scenarios in which cryptocurrencies could destabilize the United States and called on the Biden administration to regulate them as she fears that state and nonstate actors manipulate the role of the U.S. dollar.
Related Reading | Inverse Signals: Why Bitcoin Weakness Is Attributed To Dollar Strength
Clinton warned people are only beginning to see the need to regulate the cryptocurrency markets and called to imagine “the combination of social media, the algorithms that drive social media, the amassing of even larger sums of money through the control of certain cryptocurrency chains,”
The former presidential candidate has already voiced her unamicable views around cryptocurrencies before, seeing them as a threat for the United States.
Likewise, for Clinton, the nations of China and Russia are manipulative obstacles for the country.
We are looking at not only states, such as China or Russia or others, manipulating technology of all kinds to their advantage, we are looking at nonstate actors, either in concert with states or on their own, destabilizing countries, destabilizing the dollar as the reserve currency.
Clinton thinks that the Biden administration needs to address many questions regarding the role of cryptocurrencies in the U.S. nation and its economy, but added they might not have much time to do so.
The Former Secretary of State hopes that the current administration will try to operate “exactly” in the way she thinks best based on what she has been “hearing from them”, meaning their views regulations match her hostility.
We certainly need new rules for the information age, because our current laws, our framework, it is just not adequate for what we are facing.
Is The U.S. Marching Towards More Crypto Hostility?
Last week, the Former Secretary of State made a similar warning during the Bloomberg New Economy Conference, where she stated that crypto represents a risk for the stability of the U.S. nation and currency (the U.S. dollar).
Clinton believes the “interesting and somewhat exotic effort” of crypto mining can undermine the role of the dollar and seemed to consider full-ban on cryptocurrencies similar to China’s:
It appears as though China is going to prevent outside technology payment systems, like the cryptocurrencies development, from playing a big role inside China. I think they recognize, giving their nationalism, perhaps earlier than other nations, that this could be a direct threat to sovereignty.
On the other side, Senator Pat Toomey had voiced back in September that the China ban was an advantage for the United States and tweeted his own opinion on the upside of innovation and economic liberty, which Hillary Clinton still fails to approach.
Beijing is so hostile to economic freedom they cannot even tolerate their people participating in what is arguably the most exciting innovation in finance in decades. Economic liberty leads to faster growth, and ultimately, a higher standard of living for all.
Furthermore, Jerome Powell has just been renominated as U.S. Federal Reserve Chair to face the accelerating inflation and other challenges the nation’s economy is facing. Powell has been warry around cryptocurrencies, but he has also stated he would not opt for a ban, but regulatory controls on stablecoins.
Related Reading | Bitcoin Heads Towards $35,000 as Biden Stimulus Hurts US Dollar
Crypto total market cap at $2.5 trillion in the daily chart | Source: TradingView.com
Bitcoin price dips under $60K as Dollar Strength Index reaches 16-month highs
The greenback regained strength in hopes that stronger inflation data in the U.S. would revive a tighter monetary policy and after better-than-expected retail sales growth.
Bitcoin does not make a great deal of sense, according to billionaire Lee Cooperman
The Omega Advisors chairman and CEO said people should be careful about Bitcoin, and suggested gold as a better store of value.
Michael Saylor doesn’t think Bitcoin is ‘going to be currency in the US ever’
The MicroStrategy boss thinks Bitcoin is a form of property and points out that the U.S. Government is not threatened by other forms of property.
Trump calls Bitcoin a scam, advocates for dollar hegemony
Former U.S. President Donald Trump is still not a fan of Bitcoin, calling it a scam while stating that the dollar should remain the “currency of the world.”
Possible Bitcoin treasury adoption as more companies cite inflation concerns
Bitcoin is likely a topic of conversation among the treasury department of many U.S. companies amid rising inflation.
Blockchain Bites: Will Bitcoin See ‘Reflexive’ Buys After Tesla?
Analysts say the market is pricing in the potential for other corporate BTC investments.
Strengthening US Dollar Could Bring Further Downside for Bitcoin
With the U.S. dollar eyeing a pre-election recovery, the path of least resistance for bitcoin may be to the downside.
Hyper-Stablecoinization: From Eurodollars to Crypto-Dollars
Crypto-dollarization is the world’s next best hope to meet its insatiable demand for U.S. dollars.
US Intelligence Officials Are Funding Research on Dollar-Crushing ‘Black Swan’ Events
The Office of the Director of National Intelligence wants to sponsor a post-doc researcher to study what would happen if the U.S. dollar lost its status as the world’s reserve currency.
In Race for 2030 Currency Supremacy, the Dollar Is Its Own Worst Enemy
As the roaring ’20s begin, the U.S. dollar looks as strong as ever. But signs of decline are on the horizon.
Gemini Launches NYDFS-Regulated Crypto Pegged to the Dollar
Crypto exchange Gemini is set to issue a dollar-backed, NYDFS-approved stablecoin – the second to launch in New York today.