Although Bitcoin’s recent surge seems like deja-vu from its rampant increase in 2017, this time it may be here to stay. Discover why this is the case and how you become a part of this!
The U.S. dollar finds itself as the currency of the global economy. In extreme circumstances, many countries even replace their own sovereign currencies for the dollar, in hopes of bringing much-needed economic stability. The dollar’s dominance, however, is not uncontested and its use is not without drawbacks.
Disrupted by unstable democracy protests and an unprecedented National Security Law, Hong Kong’s position as Asia’s favored financial hub is under threat like never before. Investing Columnist Leo Wang investigates the increasingly bleak future of “Asia’s World City” and the hopeful cities vying to replace her.
Cryptocurrency’s conundrum is that businesses will not want to accept cryptocurrencies as a payment method until its value stabilizes (the price of cryptocurrencies routinely yo-yo by five percent per day). The value can only become more stable once people start using it to actually purchase goods and services. Instead, cryptocurrency prices are currently determined by speculators. In other words, cryptocurrency’s future transactional demand will only really increase once its present transactional demand increases since this is the only thing that will allow its value to be sufficiently stable for businesses to accept.