Paolo Ardoino Predicts Everyone Will See Bitcoin as the Ideal Financial Structure

Alexander Salazar
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Paolo Ardoino Predicts Everyone Will See Bitcoin as the Ideal Financial Structure

The USDT stablecoin emerged to solve the arbitrage problem and is the fiat on-ramp for Bitcoin and other crypto assets. BTC has prevented El Salvador from getting a loan of USD 1.3 billion, but Ardoino believes investors will massively buy Bitcoin bonds.

Paolo Ardoino, the CTO of Tether (USDT), sees the stablecoin as complementary to Bitcoin (BTC), not as its replacement. He says that he jumped into the crypto world in 2012 when the Bitcoin white paper came into his hands.

The document fixed in his mind the idea that people could protect their wealth without resorting to banks or other intermediaries. He also learned that Bitcoin allowed millions of unbanked people to access financial services.

He noted the positives of the pioneering cryptocurrency and set about studying the market. He then realized that arbitrage was nearly impossible in 2013 when Bitcoin hit the USD 1,000 threshold for the first time. That investment technique allows buying an asset at a low price in one market and selling it at a higher price in another market.

He explained that it was then not easy though it was possible to transfer Bitcoin back and forth in ten minutes. He also pointed out that it was necessary to invest between one and five days to settle fiat money in banks, which were upset by the appearance of cryptocurrencies.

The developer said that Tether emerged as an alternative to solve the arbitrage problem. He highlighted that the stablecoin is the fiat on-ramp for Bitcoin and other crypto assets and one of the most used cryptocurrencies.

Bitcoin Bonds of El Salvador Are a High-Impact Plan

The government of El Salvador adopted Bitcoin as legal tender in September 2021. The Central American country plans to build a Bitcoin City, which they will finance with the issuance of bonds based on the cryptocurrency.

The great interest in the volcano bonds of El Salvador makes people want that to happen as they consider it the best time. For almost 14 years, many have said Bitcoin could save countries and cities as it is the best currency.

The adoption of Bitcoin has prevented the Central American country from obtaining a loan of USD 1.3 billion through the International Monetary Fund (IMF). For that reason, the world is watching what might happen next.

However, Ardoino is optimistic that investors will massively buy Bitcoin-based bonds, BTC, and Tether. He stated that few jurisdictions were at the forefront of Bitcoin bond financial innovation.

The World Will Gain Financial Freedom in 2022

Ardoino believes that the world will make huge strides toward the financial freedom that Bitcoin and Tether have long sought. He predicts that the focus will be on Bitcoin due to the current global events.

The expert recalled that people had invested a lot of money in different tokens hoping they would be worth 100 times more. However, he stressed that all the money would go to Bitcoin this year, as everyone would realize it is the ideal financial structure.

Bitcoin is trading at around USD 41,205 and has accumulated a 2.3% gain over the last 24 hours. Its daily trading volume is above USD 25.34 billion, and its market capitalization is about USD 783.34 billion, according to CoinGecko.

By Alexander Salazar

Unknown Cryptocurrency Rises 59% in 24 Hours as Whales Sell Bitcoin and Buy Metaverse-Related Tokens

Audy Castañeda
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Unknown Cryptocurrency Rises 59% in 24 Hours as Whales Sell Bitcoin and Buy Metaverse-Related Tokens

While major cryptocurrencies in the market like Bitcoin (BTC) and Ethereum (ETH) are facing a drop of more than 6% in the last 24 hours, an unknown cryptocurrency focused on payments is up 59% in the same period.

While the main cryptocurrencies in the market, such as Bitcoin (BTC) and Ethereum (ETH), face a devaluation of more than 6% in the last 24 hours, an unknown cryptocurrency focused on payments is up 59% in the same period, completely ignoring the cryptocurrency market crash.

The one who captured the attention of the cryptocurrency market with a daily maximum of almost 60% was MinePlex (PLEX), which, in addition to its good daily performance, has also risen 119% in the last 30 days. MinePlex is a mobile digital bank designed to give users the ability to use crypto and fiat currencies for payments, banking, and transfers.

Its ecosystem consists of four components: a payment system called MinePlex.Money; a trading platform, MinePlex.Payment; an online store, MinePlex.Marketplace; and a recently launched digital bank, called MinePlex.Finance that connects PLEX tokens to major fiat currencies.

“MinePlex.Finance is independent of the MinePlex platform, although it requires the use of the project’s own PLEX tokens to use it. It is an advanced solution that can be used as a digital account, payment application, or mobile wallet for PLEX and fiat tokens,” according to a company statement.

Whales Sell Bitcoin and Buy Metaverse Tokens

Not only is PLEX attracting the attention of cryptocurrency investors, they are also amassing fortunes in an altcoin metaverse, while selling off large Bitcoin holdings, according to data from WhaleStats.

According to the platform, in the last seven days, the top 100 ETH holders are massively investing in The Sandbox (SAND), with large purchases averaging $493,764.

Meanwhile, the whales are massively selling Wrapped Bitcoin (WBTC), which is Bitcoin issued on the Ethereum network and backed by the “original BTC.” On average, the whales are selling more than $501,000 of WBTC, which was the fifth most sold token among ETH millionaires.

However, while Bitcoin flows may not go so well with ETH whales, data from Glassnode reveals that institutional flows and smaller-scale investments in BTC are on the rise.

“MicroStrategy is buying an additional $190M [BTC]. Smaller entities are buying Bitcoin in bulk. Significant institutional flows to [Grayscale Bitcoin Trust] and Purpose BTC ETF. New capital inflows into the market mitigate the risk of a sharp correction,” Glassnode noted.

According to Cryptopredictions, PLEX started April 2022 at $1,164 and is forecast to end the month at $2,365. During April, the expected high price of PLEX is $2,953 and the low is $2,008.

Why is the Price of PLEX going up?

The price of Mineplex has been rising since April 6 and its bullish trend is gaining momentum every day. One of the main factors for the current price increase is the recent launch of a new digital banking app, Mineplex, which caused the coin’s price to skyrocket. The new app will bridge major fiat currencies with the PLEX token.

By Audy Castaneda

According to an Argentine Analyst, Bitcoin could be between USD 96,000 and 116,000 in a New Uptrend

Audy Castañeda
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According to an Argentine Analyst, Bitcoin could be between USD 96,000 and 116,000 in a New Uptrend

Carlos Maslatón and the price of Bitcoin: rallies, subjectivity and market dynamics.

Within the framework of the second edition of the cycle of crypto talks at the Faculty of Economic Sciences of the University of Buenos Aires (UBA), organized by the Decrypto.la exchange, the Argentine Carlos Maslatón, lawyer and financial market analyst, who along with Iván Tello, co-founder of Decrypto.la, and Axel Becker, content manager, analyzed the crypto market and its situation. Nearly 500 people attended the event.

Carlos Maslatón emphasized the main characteristics of the Bitcoin project and its potential: transactions without intermediaries, decentralization, limited supply, and financial freedom to transfer value when one wants to whom one wants.

Maslatón’s Views about Bitcoin

“A ban-proof financial product was created,” said the financial market analyst, adding that, “banning Bitcoin is like banning the sun or the moon; it is impossible”.

Given the progress that this technology has had and the growing adoption, “it is illogical to think that someone could put a stop to it. Popular support for the crypto world is so great that it is unstoppable,” he said.

Carlos Maslatón estimated what price Bitcoin could reach in this cycle, according to the structure that it has been putting together: “I consider that we are in a new upward trend. I see two objectives: one can be USD 96,000 or 116,000, and the other, more long-term, is USD 399,000”, estimated the analyst.

Human Behavior is the Key

The lawyer and enthusiast of the crypto world referred to his vision when analyzing the price of Bitcoin. The specialist believes that the key is to attend to human behavior in order to predict where the price of Bitcoin may move, something that is also true, according to Maslatón, for the dollar or any other value reserve asset.

As an example, Maslatón explains that during rally periods some investors choose to sell to take profits. This, in turn, pushes the price down and causes holders to panic as their investment depreciates.

The situation is even worse for investors who bought at the higher price, as they will tend to resist buying until the price returns to the resistance it had previously touched. “It is very likely that those who have entered in these last phases have leveraged themselves, with which they are forced to sell down,” he explained.

Thus, the lawyer continued, a spiral of pessimism creeps in, which enhances the initial fall. “This is human behavior; the economy is human action and is subjectivity”, he declared.

“I make this call in the Faculty of Economic Sciences to see prices with a calmness different from the nervousness with which those who believe only in the fundamentals want to analyze them: I buy because it is going up or I sell because it is down,” he said.

Later, Maslatón stated that it is wrong to apply the concept of equilibrium level. According to his vision, the market is dynamic by definition. “There is nothing balanced in the world. It is continuous movement. Nothing ever finds its level. It is enough for one to declare that prices have come here to stay for the opposite to happen,” he said.

Finally, Maslatón admitted not having any interest in buying Shiba and Doge, nor NFTs. In regards to the possibility of dollarizing the Argentine economy, he concluded that, “to carry out dollarization, the State should confiscate 97% of the citizens’ assets. It is impossible for this to happen at this time, it is not feasible.”

By Audy Castaneda

Leonardo Cositorto from Generación ZOE Arrived in Argentina

Jenson Nunez
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Leonardo Cositorto from Generación ZOE Arrived in Argentina

The CEO of Generación ZOE got transferred to Córdoba, where he will get investigated. In the latest raids carried out in Buenos Aires, USD 565,000 and 63,000 pesos got confiscated.

The case of Generación ZOE and its ringleader, Leonardo Cositorto, has reached a new level with his extradition to Argentine jurisdiction from the Dominican Republic, where he got detained on April 4.

Cositorto arrived in the early hours of April 12 from the Caribbean country, where he fled after getting accused of illicit association and fraud in Argentina. According to a local media report, the accused got transferred by a team of agents from the federal fugitive and extradition investigation division of Interpol Argentina.

After he arrived in Buenos Aires, Cositorto would get transported to Córdoba, the town where his company had its headquarters and where the court case would take effect.

On his way out to get transferred to Córdoba, Cositorto got to say to the media that his team works and continues, implying that his entity is still strong and active.

This information would be possible given that Cositorto launched another project last March, under a model similar to that of Generación ZOE, which got named Sunrise Coach. After informing that Generación Zoe was vanishing, the new project required investments of up to USD 3,600. Each investment will count on a monthly return registered at 7.5%, percentages similar to that of ZOE, and profits marked at 20% from referrals.

Cositorto got arrested by Interpol when occupying a hotel located in Santo Domingo, the capital of the Dominican Republic.

What Would Happen to Cositorto?

The also promoter of the Zoe Cash token and suspected of fraud will first get subjected to investigation before the prosecutor Juliana Companys and then transferred to the Bouwer prison, in the province of Córdoba, where he must remain until the officials decide his situation.

The defense attorney, Miguel Ángel Pierri, stated that the next steps would be to ask the Prosecutor’s Office for access to the investigation files to learn more about the current situation.

Pierri explained that his client was not in charge of a fraudulent scheme but of algorithms, and therefore it is not a crime since it is another type of application and financial procedure.

Pierri also wanted to clarify that Cositorto had not fled Argentina because his trip got scheduled on November 4, when it was not requested.

Authorities Seized Money and Documents

The authorities carried out raids on six homes of people involved in the Cositorto scheme, based in Buenos Aires.

During the procedure, several police forces participated; more than 565,000 dollars and 63,000 Argentine pesos, documents, and emails with crucial data that could add to the investigation got confiscated.

So far, 20 people got detained. Gustavo Saavedra was the last to be captured, who played a role in Leonardo Cositorto’s team at Generación Zoe. He got charged with illicit association and fraud.

By: Jenson Nuñez

Inflation in the United States Rose 8.5%, Reaching the Maximum in the Last 40 Years

Jenson Nunez
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Inflation in the United States Rose 8.5%, Reaching the Maximum in the Last 40 Years

Last March, inflation was the highest in the previous semester: 1.2% in all items, the highest being gasoline. Compared with last year, the increase got registered at 8.5%.

Inflation is invading the world. The numbers started to go negative when the pandemic began, and now, the current conflict between Russia and Ukraine has worsened the situation. The data shown by the Bureau of Labor Statistics presented the severe struggles that a country such as the United States of America is facing.

The US Department of Labor’s Consumer Price Index, a metric used to measure the rising cost of living, elevated its stats faster than expected in March. One of the most prominent causes that boosted this sudden increase has been the price of both energy and food. Both additions get closely linked to the current conflict in Europe, given Russia’s vital role in both economic areas.

According to various reports and studies, it is worth noting that with the numbers for this month, annual inflation is 8.5%, the highest in at least four decades. Not since 1981 had the nation experienced inflation of such magnitudes.

The Month with the Highest Inflation Ever Recorded

The Consumer Price Index for All Urban Consumers shows an increase of 1.2 percent in March. This increase is the most significant monthly increase in recent months. In February, this index was 0.8%; in January, it was 0.6, and in December 2021, it was also 0.6.

The gasoline, housing, and food prices were the fundamental causes that led the highest percentage to the seasonally adjusted increase of all items. For example, gasoline rose 18.3% in March, while it had reached a peak registered at 6.6% the previous month. Throughout the year, the increase marked in this energy is 48%.

Meanwhile, electricity in the United States of America approached at least 2.2% in March and 11.1% last year. Also, according to stats related to food, the increase this month was 1%, and the index of food consumed within the home increased by 1.5 percent. There was an increase of 8.8% in food items throughout the year.

Also contributing to the increase was the increase in housing, transportation, airfares, furniture, medical goods and services, health care, and insurance, among other interests.

What about Digital Assets?

In all of March 2022, digital currencies didn’t have the best performance in the market, but they presented balanced stability, with some ups and downs but avoiding big falls and crashes.

In general terms, Bitcoin (BTC) has an increase of 5% on today’s date, April 12, while Ethereum (ETH) grew by 20% for the same period. Cardano (ADA) is another strong performer between mid-March and today: up 23%. As for Solana (SOL), very fashionable lately, the increase was 35% in the last month.

For those doubting the power of digital assets as an ally to protect against inflation, these numbers speak for themselves.

By: Jenson Nuñez

Although the Colombian Economy Grows, Inflation Affects the Poorest

Alexander Salazar
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Although the Colombian Economy Grows, Inflation Affects the Poorest

After enjoying a remarkable boom with a 10.6% increase in 2021, the Colombian economy will grow by 5% in 2022. The annual increase in the consumer price index (CPI) reached 8.53%, the highest since 1975.

Estimates from Banco de la República and other public organizations in Colombia indicate that the gross domestic product (GDP) will grow between 4% and 6%. After the results of the first quarter of 2022 became public knowledge, there was an upward adjustment in the growth projections.

Although growth expectations for this year have improved, the rise in annual inflation to 8.53% in March disadvantages Colombians with the lowest incomes. The National Administrative Department of Statistics (DANE) of Colombia was the agency supplying those figures.

In 2021, the Colombian economy recovered notably after dropping by 7% in 2020 due to the pandemic. According to figures from DANE, GDP growth last year was 10.6%, the highest since 1975.

Colombia Stands out in Latin America Despite Its Slowdown

After growing significantly in 2021, various projections estimated that GDP growth would decrease by around half in early January 2022. Although the World Bank estimated an increase of just 4.1% this year, that rate positioned Colombia as a leader in Latin America.

The fading of the investment boost and the tightening of fiscal and monetary policy in 2021 contributed to slowing down Colombia in 2022.

In January, the International Monetary Fund (IMF) projected annual growth of 4.5%. However, they published an update to their estimates in late March, predicting growth of 5.75%.

The Financial Plan for 2022 of the Ministry of Finance of Colombia indicates that there will be a growth of 5%. However, Banco de la República, the Colombian central bank, predicts a 4.3% growth.

Inflation Affects the Most Vulnerable Colombians

In March, the annual increase in the consumer price index (CPI) reached 8.53%, the highest since 1975. The statistical agency DANE also calculated the impact of price increases according to different income levels.

Colombians with the lowest income levels suffer the most from the rise in the price of food and electricity. However, according to DANE, the percentage increase in those same items is lower for the upper classes.

A chart from March shows that inflation was 6.72% for the upper classes and 8.75% for the middle class. According to the DANE classification, inflation was 10.46% and 10.35% for the poorest and most vulnerable, respectively.

Bitcoin Attracts a Growing Number of Colombians

The Financial Superintendence of Colombia (SFC) has authorized the operations of several exchanges, which has relaxed the regulation of cryptocurrencies. Those platforms, including Bitso, Binance and Gemini, partner with banks to offer crypto asset trading services.

A study by the Sherlock Communications marketing agency indicates that the interest from Colombians in cryptocurrencies has grown significantly. Around 22.3% of Colombians expect to buy Bitcoin in 2022, about 208% growth compared to 5.2% in January.

Mauricio Tovar, COO of Tropikus, said that inflation would impact Latin America and Colombia in 2022. However, he highlighted the value of cryptocurrencies amid a problem that people seek to solve.

By Alexander Salazar

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