Warren favors the use of cryptocurrencies and CBDCs, as these could help solve the problems of large banks. The senator believes that there should be strict regulations on these assets to protect users from fraudulent actors.

Elizabeth Warren, a Democratic senator, and former US presidential candidate is a member of the Senate Banking Committee. The official commented again on cryptocurrencies and central bank digital currencies (CBDC).

In recent days, the popular senator argued that there are currently many problems in the US financial system. She said that one of them was the big banks that control and put a large part of the economy at risk.

She recommended looking at the design of cryptocurrencies to find a way to make it better and see where it presents risks to the system.

Warren Believes that CBDCs Can Help Against Bank Failures

When asked whether cryptocurrencies could positively disrupt the modern financial system, Warren replied that she is interested in them. She highlighted that central bank digital currencies attract her in a particular way.

The US senator believes that large banks have failed to reach all consumers in the country. Furthermore, she believes that CBDCs may represent a solution to that problem.

Warren said that CBDCs could be helpful as millions of people do not have access to banking services. For that reason, she called this an evident failure of big banks. She stated that they could not reach all consumers in the country, particularly the unbanked, to provide them with banking services.

In this regard, Maya Zehavi, an Israeli Bitcoin expert, said that she agrees with the philosophy of Senator Elizabeth Warren. However, she noted that Warren does not see how current CBDC designs cement the TBTF stampedes on innovation and competition.

Elizabeth Warren Speaks About Regulating Cryptocurrencies

Warren expressed that she did not want to wait to see the destruction of many people, many small investors, and many small traders.

The former presidential candidate wonders who takes advantage of the fact that there are no rules about cryptocurrencies. She also does not know who wins when the police do not do checking to detect illegal activities. She believes that there should be regulations on these types of assets.

The official sent a letter to Treasury Secretary Janet Yellen requesting stricter regulation on cryptocurrencies. She asked her to appeal to the Financial Stability Supervisory Board to act urgently in that case.

She believes that it is not advisable to wait any longer for the United States to adopt an appropriate regulatory regime for these assets. In that regard, she said that cryptocurrencies would become so intertwined in the financial system that there could be potentially serious consequences.

Warren Considers that Cryptocurrencies Should Pay Taxes

Regarding taxes, Warren believes that there should be no difference regardless of where the capital is. For that reason, she considers that cryptocurrencies should not be tax-exempt.

She emphasizes that there should be an annual tax on any form of assets. According to the senator, real estate, money, stocks, diamonds, yachts, and cryptocurrencies, among others, should pay taxes.

By Alexander Salazar

In the last three years, the number of Americans investing in Bitcoin has increased by 200%. The ages of 13% of US investors in BTC are between 18 and 49 years old.

Trust in Bitcoin (BTC) has increased among US investors, especially those between 18 and 49. A survey that the Gallup consulting and analytics firm conducted this month reveals that data.

The number of American investors owning BTC has grown from 2% in 2018 to 6% in 2021, Gallup reports. The consultation considered those who hold more than USD 10,000 worth of bonds, stocks, mutual funds, and even retirement savings accounts.

While 13% of Bitcoin investors are between 18 and 49, 3% are people over 50. Gallup considers that the belief that Bitcoin is a highly-risky investment may have waned.

A 2018 Gallup survey indicates that 72% of US investors were not interested in buying Bitcoin. The 2021 study also reveals that male investors are almost four times more active than women in the cryptocurrency market. That data was derived from a survey measuring the Investor Optimism Index that the company conducted in recent days.

The potential market for Bitcoin among American investors has expanded since 2018. Around 2% of them currently state that they could soon buy the cryptocurrency, increasing by 100% compared to 2018.

Additionally, this year’s survey allows seeing that 58% of investors say that they are not interested in buying Bitcoin. That means that there has been a 19% reduction in the last three years. For its part, the percentage of US investors between 18 and 49 not interested in buying Bitcoin has decreased by around 32%.

Trust in Bitcoin Has Grown Among Young Investors

American investors are increasingly familiar with Bitcoin and the level of risk that they perceive in an investment. Those two factors have greatly influenced the growth in their percentage since 2018. Currently, the number of investors who have heard about cryptocurrencies has risen to 38%.

The percentage of investors viewing Bitcoin as a risky investment has decreased by 20% in the last three years. A factor contributing to this is that companies like Tesla, Square, and Morgan Stanley have invested a lot of money in Bitcoin.

Consequently, there has been a general acceptance among US investors, particularly those under 50. However, stocks, bonds, and mutual funds are still the predominant types of investment. Therefore, Bitcoin is just a complementary purchase rather than a replacement for traditional investments.

The latest Monetary Policy Report from the US Federal Reserve (FED) discusses the rise of Bitcoin and other cryptocurrencies. The government agency believes that reflects the growing appetite for risk among investors.

The relevance of Bitcoin within the world economy and its current recovery have contributed to the growing interest among Americans. It is only a matter of time before more young investors enter the trading of the pioneering cryptocurrency. Since its inception, the creation of Satoshi Nakamoto has been able to rally from its lowest levels.

By Alexander Salazar

Ether achieved its highest capitalization in May when it reached its highest values after exceeding USD 4,000. The use of cryptocurrencies by lending companies shows that this payment method continues to grow.

A new report from Coinbase revealed that commercial interest in Ether (ETH) grew dramatically during the first half of 2021. The second cryptocurrency outperformed Bitcoin in that period.

The Coinbase new semi-annual report suggests that the growth in Bitcoin trading operations is lower than that in Ether transactions. The document indicates that the latter rose by more than 1,400% in the last six months. In the case of Bitcoin, it increased by around 489% and achieved a market capitalization of about USD 2,100,000 million.

Although Bitcoin moved most of the capital within the exchange, the increase in Ether trading volume allowed capitalizing about USD 92,000 million in the first half.

Besides, the highest capitalization of Ether occurred in May, when the cryptocurrency recorded the highest values after exceeding USD 4,000 per unit. That contrasts to what Bitcoin showed, as the highest trading volume occurred during the first months of 2021.

A Lender Used Bitcoin as Collateral to Refinance a Home Loan

Glen Oaks Escrow, an independent escrow of Southern California, did its first property refinancing with a Bitcoin-backed loan. Its CEO Joe Curtis said that the use of cryptocurrencies shows that this payment method continues growing. He explained that it depends on the person who uses them and how they use them.

Curtis highlighted that the lender and not the home buyer used BTC in a real estate transaction. That reveals the potential of this technology to remain more prominent, even if people consider it new to the industry.

Regarding another cryptocurrency-related real estate novelty, a Dogecoin fan from Utah offered a 10% discount on his property if the buyer pays with DOGE.

Ghanaian Vice President Says Africa Should Adopt Bitcoin and Other Cryptocurrencies

Vice President of Ghana, Dr. Mahamudu Bawumia, believes African governments should adopt Bitcoin and other cryptocurrencies to trade more effectively.

According to Ghanaweb, Bawumia argued that trade between African countries requires a centralized single payment system. Currently, transporting goods across African borders is expensive and slow, but he believes a digital payment system would solve these problems.

Dr. Bawumia said that digitization has also become one of the most consistent policies of the Nana Akufo-Addo government.

The scourge of the COVID-19 pandemic hit and forced many economies into partial and total quarantines. That situation reinforced the need for the countries of the world to pursue digitization.

Earlier this year, the Bank of Ghana (BoG) revealed that it is developing a central bank digital currency (CBDC). Dr. Bawumia highlighted its intention and believes it will bring credibility to the country in the digital world.

In a Research Note, Bank of America Considers CBDCs Are More Effective Than Cash

In a recent research article, Bank of America (BoA) classified central bank digital currencies as a much more effective payment system than cash.

The bank based in Charlotte, North Carolina, is the second-largest in the United States by total assets. They said that CBDCs could completely replace cash in the distant future.

The report comes amid growing interest in the use of this type of asset among central banks. A report from blockchain platform Bison Trails reveals that around 80% of central banks explore use cases involving CBDC. Besides, it indicates that 40% of those institutions are already testing proof-of-concept programs.

By Alexander Salazar

Lyn Alden believes that developments after the creation of Bitcoin have not been able to surpass it either. The executive sees Bitcoin as opera in technology, as it will improve over the years to stay current.

The founder of Investment Strategy, Lyn Alden, recently said that Bitcoin (BTC) is improving, unlike other cryptocurrencies.

Alden objected to the idea that the pioneering cryptocurrency is easy to displace, as she considers it wrong. The advisor highlighted that none of the cryptocurrencies after the creation of Bitcoin has been able to surpass it.

She believes that Bitcoin has been successful because it is a well-designed protocol, and the path dependence is difficult to replicate. By that, the executive meant that the developer who created Bitcoin finally left the ecosystem.

The person or group of people who created the Bitcoin protocol and its reference software in 2008 used the pseudonym Satoshi Nakamoto. Since Nakamoto disappeared from the public scene in 2010, the cryptocurrency is not dependent on his leadership.

Bitcoin Is Not a Company But a Protocol

Alden considers Bitcoin to be a protocol rather than a company, while other blockchains are more like a company. In this way, she spoke about the dependence of other projects on the decisions of their founders and a centralized development team.

The specialist said that the Bitcoin and Ethereum blockchains have a significant network effect, but that is all their resemblance. She highlighted that both have very different qualities in many other areas, one of which is decentralization.

Bitcoin Is the Leader in the Adoption of Cryptocurrencies

The executive also mentioned that more than 100 million users adopted Bitcoin. She said that figure includes those who hold Bitcoin in self-custodial wallets, on exchanges, and in other custodial services.

According to Alden, that number would indicate that Bitcoin is currently at its highest level of adoption. She compared this development of BTC to that of the Internet at the same point in its life cycle. Besides, she said that Bitcoin is the asset that has reached a market capitalization of USD 1 billion the fastest.

Exclusive Wallets and Applications for Bitcoin

The founder of Investment Strategy also mentioned that Bitcoin has more varied software and hardware wallets than other currencies. Likewise, she noted that there are a variety of applications that only work with BTC.

Alden specified that the Bitcoin ecosystem overlaps in the broader crypto space in many ways. However, she said that it also has a part of an ecosystem focused only on Bitcoin. She highlighted that including all these different layers makes the Bitcoin development network very large.

Question of Whether a Better Competitor Can Replace Bitcoin

Regarding when better technology will replace Bitcoin, Alden replied that Bitcoin is opera in technology. She anticipates that Bitcoin will improve in the coming years and will always remain current.

She compared Bitcoin to TCP/IP computer network protocols, as they will still be the backbone of the Internet after five years. She attributes that to the critical mass of users they have reached, which she believes will happen with Bitcoin.

Alden noted that there have already been four growth cycles in the history of the Bitcoin network, all of which have been strongly correlated. She explained that Bitcoin held firm throughout that time, being the leading cryptocurrency for almost 13 years.

By Alexander Salazar

The moon phases seem to indicate when the price of Bitcoin tends to rise, except for the new moon. Musk noted that Tesla could accept Bitcoin payments again if its mining used more clean sources of energy.

The price of Bitcoin has settled back around USD 40,000, indicating that its volatility has returned. The cryptocurrency is currently trading around USD 37,000 and has a market capitalization of more than USD 694 billion.

Although it is too early to say that there is a short-term trend reversal, hope has returned to the market. Bitcoin has yet to break above the USD 41,500 resistance to confirm that the bulls have regained control of the situation.

There must be another factor that has caused the massive liquidation of shorts in the futures market.

Fundamentals emerge to justify the sharp rise in the price of Bitcoin in a matter of minutes. However, some people believe that the full moon may be driving the value of the pioneering cryptocurrency higher.

Bitcoin Price Prediction According to Moon Phases

Moon phases are among the many ingenious explanations of how the price of Bitcoin moves.

Since the beginning of the year, the price of Bitcoin tends to rise every time the moon is full, but not during a new moon. It might be a coincidence, but it is worth considering that data.

In recent days, the start of a full moon coincided with the last bullish rally of Bitcoin.

Elon Musk Says He Wants to See Bitcoin Grow

Tesla’s founder Elon Musk is one of the most influential figures in the world of cryptocurrencies. He frequently posts on Twitter about various digital assets, causing sudden price swings. That leads some to wonder about his true intentions.

However, Musk explained that he is both an investor in cryptocurrencies and their supporter. He recently said that his only relevant investments, aside from the Tesla and SpaceX companies, are Bitcoin, Ethereum, and Dogecoin.

Although he has created confusion, he said that he is a supporter of Bitcoin and cryptocurrencies in general.

His statements and his actions at Tesla have led several leading cryptocurrencies to skyrocket in recent months. In May, Musk said that Tesla would stop accepting Bitcoin as payment due to the alleged environmental harm of its mining. That announcement caused the sharp crash of the pioneering cryptocurrency that major altcoins accompanied.

Musk Believes Bitcoin Is Shifting to Renewable Energy

Musk noted that Tesla seeks to accelerate the advent of sustainable energy. For that reason, he said that his company should do the proper management on the energy use of Bitcoin. The executive believes that the cryptocurrency seems to be shifting much more towards renewable sources of energy.

The businessman said that the company keeps Bitcoin on its ledgers and could accept payments with Bitcoin again. It would do it when Bitcoin mining used more clean energy sources like sun, wind, and water. The community expects him to keep his promise, but he often makes promises that he breaks.

By Alexander Salazar

Bitcoin returns above USD 38,000 for the first time since mid-June. The largest settlements in the last three months exceed USD 1 billion.

It seems that the price of Bitcoin (BTC) is starting to make the bullish movements that various analysts had anticipated. However, many traders have inadvertently lost millions of US dollars along the way.

In recent days, the pioneering cryptocurrency has increased by 7%, exceeding USD 38,000. Meanwhile, there have been liquidations of more than USD 900 million against bearish traders on various exchanges, according to data from ByBt.

The settlements correspond to those who have bet lower on BTC in trading markets with leverage. They occurs when the price direction is contrary to what the trader’s position anticipates and touches a certain level against it.

The liquidation against the bears has been the highest in the last three months and the fifth largest overall. There have been settlements between USD 1 billion and USD 3.1 billion on exchanges to traders betting higher in the middle of the May crash.

Bitcoin has had several consecutive days in the green, losing the USD 30,000 support on July 20^th. Last week, it rose by more than 11%, closing above USD 35,000 despite the decline, according to data from TradingView.

BTC is currently in a bullish move, breaking USD 38,000 for the first time since mid-June. The price of the cryptocurrency recently approached USD 40,000 without actually breaking that level. At its highest point, the crypto asset was several cents away from touching USD 39,800.

Bitcoin Market Is in Full Green

The increase in the price of Bitcoin exceeds 22%, according to data from CoinMarketCap. Various analysts, including Willy Woo, anticipated an imminent bullish breakout, which seems to be happening now.

As usual, when BTC is on the rise, the rest of the market moves alongside it. Therefore, leading cryptocurrencies have gone up as well.

The most prominent with increases above 10% are Polygon (MATIC), Ethereum Classic (ETC), Chainlink (LINK), Bitcoin Cash (BCH), Polkadot (DOT), Dogecoin (DOGE), and Cardano (ADA).

Elon Musk Says that Bitcoin May Have Achieved Sustainability

The price of Bitcoin fell from USD 65,000 due to the suspension of payments with Bitcoin for Tesla electric cars. Since then, the pioneering cryptocurrency has not been strong enough to rise above USD 40,000 except for a couple of times. A series of adverse events have accompanied the interruption of the bullish run following the Tesla announcements.

Elon Musk stopped accepting Bitcoin due to alleged harm to the environment by digital mining. However, events after that announcement showed that the polluting footprint of this business is lower than what many think.

In that sense, the entrepreneur stated that Bitcoin seems to be at an acceptable threshold concerning its environmental impact. Hence, he explained that his company is conducting all the evaluations to accept payments with that crypto asset again.

By Alexander Salazar