Niall Ferguson talks about “Why Bitcoin and China Are Winning the Monetary Revolution“
The well-known economic historian connects the dots. In the COVID-19 money era between bitcoin and CBDCs. “NLW is reading Niall Ferguson’s latest Op-Ed for Bloomberg on today’s Long Reads Sunday: ” Bitcoin Wins the COVID-19 Monetary Revolution.” In it, Ferguson argues that its adoption is driven by the sovereignty of bitcoin and the built-in scarcity in a virtual world characterized by boundless abundance.” He also suggests that incoming President Joe Biden should introduce bitcoin into the U.S. economic structure instead of presenting a China-style central bank digital currency.
A ‘Santa Claus Rally’ for the Stock Market?
Thirty-four out of forty-five years we have had a late December rally, since 1969. This kind of rally refers to the fact that a stock market rally has been seen in almost two-thirds of the years since 1969. Averaging a 1.4 percent increase at the end of December. This year, coupled with fresh stimulation. Vaccination anticipation appears primed to jingle, Wall Street’s bells once again. However, Bloomberg’s piece gives five charts and provides us with reasons, why this market rally is already overbought and overblown so that it could be more coal than eggnog this year.
Should we use Bitcoin as an economic structure? Leave a comment below!
Stay up to date with Bitcoin news!
image credit – pexel.com