EUR/USD 1.17154
0.279%
Gold 4823.45
-0.180%
Oil 59.618
-1.645%
USD/JPY 158.684
0.243%
GBP/USD 1.34230
-0.063%
GBP/JPY 213.001
0.205%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
January 22 – The U.S. economy grew slightly faster than initially projected in the third quarter, driven by strong exports and a reduced drag from inventory factors. Newly released data shows that the final annualized quarterly rate of U.S. real GDP in the third quarter, adjusted for inflation, was 4.4%, the fastest pace in two years. This is one of the strongest two consecutive quarters of growth since 2021, when the economy was still recovering from the pandemic. Businesses slowed their imports after a rush to buy goods at the beginning of the year before Trumps massive tariffs. However, despite the volatile trade policy, consumer and business spending remained strong. With strong economic growth, a stabilizing job market, and inflation still above the Federal Reserves target, policymakers are expected to keep interest rates unchanged at next weeks meeting.January 22nd - Initial jobless claims in the U.S. remained largely unchanged last week, staying at a low level compared to the volatile holiday season. According to data released by the U.S. Department of Labor on Thursday, initial jobless claims rose by 1,000 to 200,000 in the week ending January 17th. Continuing jobless claims fell to 1.85 million last week, the lowest level since November. Initial jobless claims typically fluctuate in the last few weeks of the year, which is normal during the holiday season. However, the latest weekly data shows that the current labor market is characterized by limited layoffs.Bank of America CEO Moynihan: Bank of America is in talks with the government on affordability issues.January 22nd - A flurry of policy deployments are underway to deepen the construction of a unified national market and thoroughly address "involutionary" competition. Unlike previous efforts, this time the focus is not solely on administrative measures, but on optimizing the competition mechanism institutionally to promote high-quality economic development. In recent days, the National Development and Reform Commission, the Ministry of Finance, the Ministry of Industry and Information Technology, and the State Administration for Market Regulation have all spoken out on "anti-involution," outlining measures to strengthen capacity management in key industries and regulate fiscal subsidies. Policy documents such as the Regulations on the Construction of a Unified National Market, the List of Items Hindering the Construction of a Unified National Market, and the List of Encouraged and Prohibited Items for Investment Promotion are expected to be released, providing greater legal protection and institutional support for "anti-involution."Bank of America CEO Moynihan: Credit card limit caps slow down spending and reduce availability.

El Salvador Buys The Dip With 80 More BTC

Jimmy Khan

Jul 01, 2022 14:15

微信截图_20220701140558.png


El Salvador's mysterious president Nayib Bukele tweeted on July 1 that his nation has purchased a further 80 BTC for almost $19,000 apiece before concluding, "Bitcoin is the future." The transaction would have cost around $1.52 million in total.


The Central American nation now has a total of 2,381 bitcoins, which lowers the dollar cost average price.


Early in May, Nayib made the prior acquisition of 500 BTC for $15 million. But back then, the asset was valued at around $32,000.


Beginning in September 2021, when it acquired 200 BTC, Holdings in The Red El Salvador started contributing Bitcoin to its treasury. However, the item was suddenly trading for more over $50,000. The next seven transactions that year, along with one in January, totaled an additional 410 BTC for an average cost of around $36,500.


The entire amount of El Salvador's Bitcoin holdings is presently $46.7 million, but the Nayib tracker (which hasn't yet included this most recent purchase) shows that the nation has lost around 55% of its investment capital. If sold, it would suffer a loss of around $58 million. Given that he just strengthened his stance on the asset, it is obvious that Nayib Bukele has no intention of selling.


Alejandro Zelaya, El Salvador's minister of finance, said in May that the amount of BTC the nation had at the time was less than 0.5 percent of its yearly budget. It created a "very minor" danger to the nation's financial situation, he said.


Economic growth in El Salvador has decreased, according to a CNBC piece published last week. The nation's debt-to-GDP ratio, which measures how much a country owes compared to how much it produces, will reach 87 percent this year, and its deficit continues to be large.


The boost in tourism, which has increased by 30% since Bitcoin was approved in September, is one benefit of Bukele's Bitcoin experiment. Additionally, Bukele's popularity ratings have increased to just around 85%. He is up for reelection in 2024, and if Bitcoin markets are still bullish by then, his position is all but secured.


El Salvador has followed software company MicroStrategy, which this week also added 480 BTC to its stockpile by purchasing additional Bitcoin.

BTC Falls under $19K

During the Friday morning Asian trading session, bitcoin prices fell to an intraday low of $18,782. But it rapidly bounced back, reaching $20,280 at the time of writing.


Although the asset has been range-bound for the previous two weeks, it has lost more than 36% of its value in that time. Since reaching an all-time high of $69,000 in November 2021, the price of bitcoin has decreased by 70%.


As the bears continue to control the markets, the fear and greed index is buried in the "severe fear" zone.

Suggestion