Today’s Top Crypto News Stories
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Bitcoin 'Could Collapse' El Salvador's Economy 😲
An economist has warned Bitcoin "has the potential to completely collapse" El Salvador's economy. Steve Hanke, who briefly served in Ronald Reagan's administration, said it is "ridiculous" to think Bitcoin will be used as a means of payment. Speaking to Kitco News, he added that it is "nonsensical" to suggest BTC can be used for remittances, too. Read more.
It's Not All Doom and Gloom… 🚀
El Salvador's President Nayib Bukele remains upbeat. He’s pointed to how Bitcoin remittances under $1,000 that were sent by El Salvadoreans abroad stood at $424,000 in May 2020. Fast forward one year and this stood at $1.7 million. Searches for real estate are rising — and there's a real belief BTC can spark investment in the Central American nation. Here's why.
Crypto 'More Popular than Stocks' in U.K. 🇬🇧
Britons are shunning stocks for crypto, according to a new survey. While 5% invested in a stocks and shares ISA in 2019/20, 7% bought digital assets. AJ Bell's poll suggests 71% have made a profit, 12% booked a loss and 18% don't know how their crypto investment has done. "You have to conclude the world’s gone crypto crazy," the firm said. Learn more.
Fox Jumps Feet First Into NFTs 🦊
One of America’s biggest entertainment companies is jumping feet first into non-fungible tokens. Fox Entertainment and Bento Box Entertainment — the animation studio that created Bob’s Burgers — are launching a unit called Blockchain Creative Labs. A $100 million creator fund is being established to uncover opportunities for growth in the NFT space. The latest.
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