News with the tag "reserve currency"

The Treasury Department sign fell sharply as Treasury Secretary Janet Yellen faced a tough question about the U.S. dollar’s reserve currency status being at risk. Treasury Sign Drops — Yellen Steadies Herself and Defends US Dollar’s Reserve Currency Status U.S. Treasury Secretary Janet Yellen discus...

Russian Foreign Minister Sergey Lavrov has backed former U.S. President Donald Trump’s remarks about the negative effects of U.S. sanctions on the dollar and the American economy. Lavrov agreed that sanctions imposed by the Biden administration have weakened the dollar’s global reserve status. He fu...

Economist Art Laffer, known for his work on supply-side economics, has expressed concerns over the future of the U.S. dollar in a recent interview. Laffer argues that current U.S. economic policies are leading to the dollar’s decline, making it less attractive as a global reserve currency. Laffer Wa...

Asset management firm Vaneck released a report projecting bitcoin could reach $2.9 million per coin by 2050, becoming a global medium of exchange and reserve currency. The report suggests bitcoin could settle 10% of global international trade and 5% of domestic trade, with central banks holding 2.5%...

Bitcoin is benefiting from massive economic imbalances, rising distrust in institutions, fiscal recklessness and mounting debt burden, VanEck's Matthew Sigel said in an interview.

Bryan Courchesne, CEO and founder of crypto investing firm Daim, has shared insights regarding how the U.S. government could start holding bitcoin as strategic reserve asset. “The Justice Department holds about 200,000 units of bitcoin so the United States is the largest holder of bitcoin, and so th...

The latest transactions by the German government follow MP outcries to stop the sell-off and protect the country from the risks of the traditional financial system.

German MP Joana Cotar said the mass Bitcoin sell-off isn’t “sensible” and “productive” as it could be used to diversify treasury assets and protect against currency devaluation.

While lobbying is likely to play an important role in shaping crypto policy, just as it has done in the early days of most industries, Charles Adkins, President of the Hedera Council, believes showcasing the tangible benefits of blockchain technology is a far more sustainable approach. Therefore, in...

Recent data from the International Monetary Fund (IMF) points to an ongoing decline in the U.S. dollar’s share of allocated foreign reserves held by central banks and governments. Economists explained that reserve managers are attracted to nontraditional reserve currencies “because they provide dive...