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On December 3, Iranian Parliament Speaker Mohammad Ghalibaf stated at a press conference in Tehran on December 2 that Iran supports diplomatic contact and negotiations on an equal footing. However, in previous negotiations, the United States did not address the issues but instead imposed its own demands on Iran, forcing it to surrender. Ghalibaf pointed out that the United States demanded that Iran reduce its missile range, but Irans self-defense was "non-negotiable" and it was impossible for Iran to accept this demand. He said that Europe, under direct orders from the United States, activated the "snapback" sanctions mechanism, failing to demonstrate its independent will. Due to its obedience to the United States, Europe no longer plays any role in the Iranian nuclear issue. Irans suspension of cooperation with the International Atomic Energy Agency was the "most important and accurate" decision.December 3 - Crude oil prices fell in early Asian trading after a volatile day, with ANZ research analysts stating in a commentary that geopolitical tensions disrupted the market. The analysts pointed out that, on the one hand, US envoy Witkov arrived in Moscow to meet with Russian President Putin to begin discussions on a potential peace agreement. On the other hand, tensions escalated again after Putin threatened retaliatory measures against ships aiding Ukraine.According to futures news on December 3rd, as of the week ending November 29th, Japans commercial crude oil inventories increased by 1,019,992 kiloliters from the previous week to 11,021,410 kiloliters. Japans gasoline inventories decreased by 79,425 kiloliters from the previous week to 1,674,675 kiloliters. Japans kerosene inventories decreased by 48,655 kiloliters from the previous week to 2,349,553 kiloliters. The average operating rate of Japanese refineries was 84.6%, compared to 86.5% the previous week.On December 3rd, the overnight SHIBOR was 1.3010%, down 0.10 basis points; the 7-day SHIBOR was 1.4260%, down 0.80 basis points; and the 14-day SHIBOR was 1.4650%, unchanged from the previous trading day. The 1-month SHIBOR was 1.5200%, up 0.10 basis points; and the 3-month SHIBOR was 1.5800%, unchanged from the previous trading day.Fitch: Local government debt in Australia and New Zealand is rising, but fiscal stability remains.

El Salvador Buys The Dip With 80 More BTC

Jimmy Khan

Jul 01, 2022 14:15

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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.

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