Bitcoin News and Finance: What You Need to Know

Financial services giant Fidelity’s director of global macro says bitcoin is “exponential gold.” He explained that gold is “too deflationary and clunky to be used as a medium of exchange,” noting that “investors own it primarily as a store of value — and one of the many reasons bitcoin is often compared to gold.” Fidelity’s Director Thinks of Bitcoin as ‘Exponential Gold’ Jurrien Timmer, director of global macro at financial services giant Fidelity, shared his bitcoin outlook in a series of posts on social media platform X this week. He wrote on Wednesday: In my view, bitcoin is a commodity currency that aspires to be a store of value and a hedge against monetary debasement. I think of it as exponential gold. “Historically, during structural regimes in which inflation runs hot, real rates are negative, and/or money supply growth is excessive, gold tends to shine and gain market share relative to GDP. Notable examples: the 1970s and 2000s,” Timmer detailed. While noting that “Go...

The U.S. Securities and Exchange Commission’s former head of internet enforcement says the conviction of ex-FTX CEO Sam Bankman-Fried (SBF) is “just the tip of the iceberg” for the entire crypto industry. “People should not think that it’s safe to go back in the water … It’s a mammoth House of Cards,” he stressed, asserting that crypto, web3, and blockchain are all “nonsense.” ‘This Is Just the Tip of the Iceberg’ Former U.S. Securities and Exchange Commission (SEC) official John Reed Stark discussed his perspective of the crypto industry following the conviction of former FTX CEO Sam Bankman-Fried (SBF) in an interview with CNBC on Friday. The jury delivered a verdict on Thursday after a month-long trial, finding Bankman-Fried guilty of all seven charges. Stark is currently president of cybersecurity firm John Reed Stark Consulting. He founded and served as chief of the SEC Office of Internet Enforcement for 11 years. He was also an SEC enforcement attorney for 15 years. He said ...

Rich Dad Poor Dad author Robert Kiyosaki has broken down Rich Dad’s lesson number one. Explaining in simple terms why the rich become richer, the renowned author said: “They understand the importance of preserving tangible assets, such as gold, silver, and bitcoin, which offer lifelong financial security and freedom.” Robert Kiyosaki Breaks Down Rich Dad’s Lesson One The author of Rich Dad Poor Dad, Robert Kiyosaki, explained the core concept of Rich Dad’s first lesson in a post on social media platform X on Thursday. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. “Rich Dad’s Lesson #1 ‘The rich don’t work for $,'” Kiyosaki began. “Why? Because our wealth is designed to be stolen from our fake money via taxes and inflation and the stock market.” He elaborated: “Instead, th...

Dubai’s financial regulator, the Dubai Financial Services Authority, has approved XRP as a recognized crypto token for use within the Dubai International Financial Centre (DIFC), a special economic zone. “Licensed virtual asset firms within the DIFC will now be able to incorporate XRP into their virtual asset services,” Ripple explained, adding that institutions located in the zone can now utilize XRP “to accelerate faster, more efficient global value exchange.” XRP Becomes Recognized Crypto Token Ripple announced Thursday that the Dubai Financial Services Authority (DFSA) has approved XRP for use within the Dubai International Financial Centre (DIFC), a special economic zone in Dubai, United Arab Emirates. The DFSA is the financial regulatory agency of the DIFC. Ripple described: Licensed virtual asset firms within the DIFC will now be able to incorporate XRP into their virtual asset services. On Thursday, the Dubai Financial Services Authority also published a “Notice of...