President Joe Biden yesterday issued an executive order that could lead to the US creating a digital currency. “My Administration places the highest urgency on research and development efforts into the potential design and deployment options of a United States CBDC [Central Bank Digital Currency],” the executive order said. “These efforts should include assessments of … Read more
The U.S. will likely move forward with its own digital currency, with issuance occurring between 2025 and 2030, according to Bank of America Corp. U.S. government-backed coins, also known as central bank digital currencies, or CBDCs, “are an inevitable evolution of today’s electronic currencies,” strategists Alkesh Shah and Andrew Moss, wrote in a report Monday. … Read more
In a recent Twitter exchange, with Grammy award-winning rapper Cardi B, former Twitter CEO Jack Dorsey said on Tuesday that Bitcoin will replace the US dollar. Cardi B asked on Twitter if crypto would replace the US currency to which Dorsey replied, “Yes, Bitcoin will.” The Twitter interaction between Cardi B and the tech billionaire … Read more
Former CEO and co-founder of Twitter Jack Dorsey on December 21 tweeted that Bitcoin would replace the American dollar. The tweet was in reply to Grammy award-winning rapper Cardi B’s question on Twitter on whether the crypto would replace the greenback. “Yes, Bitcoin will,” replied Dorsey to the question. Following the tweet, prices of both … Read more
China sought to allay fears it wants to topple the dollar as the world’s main reserve currency as Beijing makes bigger strides in creating its own digital yuan. People’s Bank of China Deputy Governor Li Bo said the goal for internationalizing its currency is not to replace the dollar, and the efforts to create a … Read more