ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email The U.S. dollar is the most powerful currency that exists today. Yet analysts have been warning of the dollar’s impending doom since its rise to prominence in 1971. 10:22 Fri, Apr 8 20228:00 AM EDT Source link
The world’s reserve currency may be about to go digital, potentially transforming the way Americans move and use their money. On Wednesday, the White House directed federal agencies from the Treasury to the Commerce Department to research a number of crypto-related topics, including the pros and cons of a digital dollar. For consumers, the move … 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
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
Elon Musk, no stranger to controversy, raised eyebrows when he said that his company bought $1.5 billion of Bitcoin. Shortly afterward, he confirmed that people can buy Tesla cars with Bitcoin. A payment system to make exchanges like this possible is springing up. Between credit card companies, banks, and hybrids like PayPal , room is … Read more