Crisis

Robert Kiyosaki, a famous American entrepreneur and author of financial textbooks, affirms that global economies are facing hard times and gold, silver and Bitcoin are the solution.

A well-known venture capitalist and cryptocurrency enthusiast Tim Draper believes Bitcoin will reach $250,000 as early as early 2023.

The currently prevailing political war between Russia and Ukraine required faster preparation of the respective citizens for emergencies. People have withdrawn their money from ATMs and are therefore cashless. At the same time, they cannot join the queues at the banks to collect their money from the counters, so they are in a state of helplessness.

Due to the growing volume of cryptocurrency mining, Kazakhstan could suffer from energy shortages for its citizens. To counter this, the country's energy ministry has set consumption limits for miners.

Kyrgyzstan has increased electricity fees for cryptocurrency mining farms. This is the country's attempt to alleviate the energy crisis allegedly caused by the miners' high consumption.

Venezuela faces lots of issues due to the sanctions imposed by the United States of America against the authoritarian regime of President Nicolas Maduro. Therefore, its citizens face the need for tools and ways that would allow them to circumvent the economic crisis in the country.

Ever since the use of cryptocurrencies started, men have been on the top of this game, but today, it looks as if the trend is changing. Latest research shows female trading are making big strides at trading cryptocurrency such as Bitcoin than male traders.

The Central bank of Lebanon (BoL) is planning to release its state-backed digital currency known as digital pound. The bank is now the latest financial regulator to embrace the roll out of a central bank digital currency CBDC. The official launch is planned for 2021.

The use of Bitcoin and other digital currencies has played a big role in the economic recession caused by Coronavirus. A lot of people, businesses and companies have stored their wealth in cryptocurrency in fear of inflation caused by the financial crisis due to the pandemic.