8.3 C
New York
Tuesday, May 18, 2021
Home Money The epic battle between US Dollar Versus Cryptocurrencies...

The epic battle between US Dollar Versus Cryptocurrencies Who will blink first. “

The epic battle between US Dollar Versus Cryptocurrencies Who will blink first. “

It started with the health  crisis in 2020 , followed by the global financial crisis, that saw the central banks  resort to heavy burrowing to mitigate the health, social and economic crisis in their respective countries. According to the Financial Times, the global debt currently stands at unsustainable 320% of GDP and continues increase exponentially. The global financial decision makers are now looking for new tools in their monetary policy toolbox to manage their debt portfolio, and balance currency volatility including reigning in inflation. There is a growing consensus and credibility around utilizing digital assets including crypto currencies to manage the fiscal and monetary policies globally and bitcoin appears to be wining the battle between fiat and digital currencies

The global financial regulatory agencies as well as treasury mandarins are alive to the fact that both conventional and unconventional monetary policies are not working, and a new solution must be found  to address the current  global debt crisis. Bitcoin came close to breaking  the US $ 50,000 barrier from the revelation that Tesla had spent US $ 1.5 billion on Bitcoin and was seriously considering  carrying out clients trading & sales transactions using bitcoin. Dorsey and Jay Z announced making an investment of US $ 23 m in Bitcoin fund, Mastercard made similar announcement, followed by BNY Mellon one of American oldest bank that reported extending new offering to its clients , using digital assets. Digital assets acceptability is growing very fast as more and more businesses and organization begin to use them in their daily transactions

Advertisement

Some of the leading companies using Bitcoin and Crypto , includes Microsoft, Bugger King, KFC, Subways, AT&T, Pizza Hut, Miami Dolphins, Dallas Mavericks, Virgin Galactic’s, Cheap air, Overstock Norwegian Air, Gyft,  and the list is growing in leaps and bounds.  The COVID-19 pandemic  has caused huge disruptions affecting millions of jobs and businesses, Over 2.2 million jobs have closed in US alone, with other debts piling up including, students’ loans, home mortgage, household, credit card debts. The road ahead for global financial institutions and markets remain bumpy and volatile and will require brands new make of  vehicles to successfully  navigate the debt terrain. Many of us will have to visit the crypto showroom or dealers including Tecla’s, show room.

Peter Kegode
Peter Kegode Peter Kegode has a Bachelor of Arts in Administration from Metropolitan State University and a Master’s in Business Administration from Metropolitan State University, Minnesota, USA, and a certificate in Project Management from Projekt Styrning Stockholm Sweden. Peter has over 30 years experience in investment banking, financial Literacy, agribusiness, International Trade & Negotiations, and Climate Advocacy Practice with his career spanning three continents: Africa, North America & South America.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

The epic battle between US Dollar Versus Cryptocurrencies Who will blink first. “

It started with the health  crisis in 2020 , followed by the global financial crisis, that saw the central banks  resort to...

Not Your Father’s Startup

Business startups come in an almost unlimited number of forms, and it turns out there are many more ways to eliminate friction from the economy than building apps.

Why Kenya’s giant fig tree won over a President.

Governments are not always known to listen to their people. In Kenya people have been pleading with government and politicians to...

Some Great Digital Yoga Resources If Your studio is Still Closed

Everyone has their own routines for trying to stay sane and healthy during quarantine. Some people work on their sourdough skills,...

Recent Comments