In November 2020 Financial Times called Bitcoin a non fundamental value asset, being accused of coordinated FUD, while less than three months after that, on the exact 12 year birthday for Bitcoin, it has it featured on its front page. This time around though the well known finance related media outlet is actually celebrating Bitcoin and the claim of a new ATH on the exact date.
$34,800 was the recent ATHs BTC has managed to add to its recent ATHs portfolio and despite the fact that a correction followed soon after that, shaving $5,000 out of its market price in hours, it has managed to recover quite fast and with style. Same as the other shitcoins, like ETH and the rest of the non values that are part of this crypto market.
Why has The Financial Times talked good about Bitcoin? Because it was paid to do so, and if nobody else is saying that, I'm saying it, because I know how the media works and it's easy to assume that the heavily invested financial institutions have all the interest in the world to do proper advertising for BTC now that they're bags are loaded.
Beyond the speculative bubble of crypto, that gravitates around prices, FUD and FOMO, blockchain and crypto is gradually embraced by world governments in their rush to develop their own CBDCs(digital currencie)... Yep, the digital money era is right around the corner and Bitcoin served perfectly as education material for both governments and individuals.
The perfect example for the above stated is Ukraine, that has its wheels spinning towards launching its first CBDC and plans on doing that with the help of Stellar, "the cryptocurrency and non-profit organization launched in 2014 by Ripple co-founder Jed McCaleb".
“The Ministry of Digital Transformation is working on creating the legal environment for the development of virtual assets in Ukraine. We believe our cooperation with the Stellar Development Foundation will contribute to development of the virtual asset industry and its integration into the global financial ecosystem.”
-Digital Transformation and IT Deputy Minister Oleksandr Bornyakov source
2021 has just started and we already have a new ATH for BTC, ETH is pushing strong for smashing the previous 2017 ATH and at this point there's no doubt of an altcoin season anymore. At least the way I see it...
Talking CBDCs and government issued digital money, everybody involved in crypto would expect China to be the first to launch their own digital yuan and the first national digital currency to be held by any citizen in its digital wallet. That won't happen, as Venezuela seems to be ahead of China for this matter. President Nicolas Maduro planning to be launching their own CBDC this year, forced by the US war against the bolivar, according to Maduro.
"They have a war against our physical currency. We are moving this year to a more profound digital economy, in expansion. I’ve set the goal of an economy that’s 100% digital."
Nicolas Maduro source
Meanwhile Shenzhen, a major Chinese city, is testing China's in-development central bank digital currency through giveaways as the city plans on giving away 20 million digital yuan (worth over US$3 million) using the "red envelope" technique that the Chinese often resort to when giving away money to people on pubic holidays or weddings.
A total of 100,000 red envelopes will be distributed, with winners to be awarded 200 digital yuan each to spend from Jan. 7 until Jan. 17 at around 10,000 physical merchants. The lottery is aimed to test China's in-development central bank digital currency in the hands of the public.
source
Coindesk hasn't mentioned what exactly are the red envelopes containing, but my assumption is that some sort of a code, playing the role of some sort of a wallet password to these funds, that are being handed to the public to test how the future payment services works. Wonder if Ukraine will give away some of that US gifted millions to its citizens through a Chinese style giveaway.
2021 is just four days old in this part of the world and it has kicked it quite strong. New ATH for BTC right on its 12 years birthday, an imminent altcoin season on the horizon and the early signs of mass adoption for digital currencies, not cryptocurrencies. What frightens me though is the loos in control and freedom over our own funds and fundamental freedoms that these governments are threating us with.
Aside from potential massive gains from crypto investments this year, we're heading towards a cashless and more easily controllable digital economy, adding on top of that vaccines that nobody knows how safe and efficient they are, and future freedom deprivations caused by the proof of vaccination that is already being talked about and the year doesn't look so bright anymore. I might be wrong though...
Thanks for attention,
Adrian
Initially Posted Using LeoFinance Beta
