Note from the CEO: As followers know, FintekNews tries very hard to focus on U.S. fintech stories but every so often an international perspective bears reporting as those ramifications will hit our shores. This article stress’s that bitcoin is a very viable (necessary) hedge against worldwide central bankers and their well meaning, but losing, easy money stimulus programs. Unintended consequences of worldwide monetary policies will be a boon for bitcoin.
“Bitcoin, as we all know, has benefited from macroeconomic uncertainty in 2016.
The first half of the year saw the devaluation of the Chinese yuan, which, in turn, caused the popular digital currency to surge by more than 50 percent in price. Then there’s the Brexit vote.
But as the excitement over these market drivers fade, speculations have started on whether future global events will further benefit the digital currency sector. Well, here’s something from Japan: Prime Minister Shinzo Abe announced on Wednesday that the government plans on implementing a stimulus package worth ¥28 trillion ($265 billion).”