It was another week at the speed of crypto, as the Wild West Crypto Show emerged from election uncertainty. Bitcoin, says hosts Drew Taylor and Brent Bates on Episode 135, is running like a deer. Over the past month, price of the cryptocurrency rose by over 47 percent. On October 17, it was at $11,367.80. By November 16, it had climbed to $16,743.00. Manny Alicandro was back on the show. The New York City-based attorney is a frequent contributor. Another fixture of the weekly show, Jonathan Keim, Communications Director of CryptoCurrencyWire, appeared with his usual trio of news developments.
He kicked off his Weekly News Update with a report that: US Fed economists are exploring the ‘intrinsic’ value drivers of CBDCs (https://ccw.fm/LiKvH). CBDCs are digital currencies issued by a central bank. They appear to differ from regular fiat currencies by being directly issued to consumers rather than through the banking system. The Fed is considering the possibility of issuing such a CBDC and has initiated a study to explore “the potential impact of a digital dollar on commercial banking and monetary policy.”
Other countries, notably China, have already launched digital currency programs. In October, the People’s Bank of China distributed 200 digital yuan ($29.75) each to 50,000 randomly selected consumers with online digital wallets, in a pilot project to test the waters. Central banks around the world are considering CBDCs, concerned that growing use of cryptocurrencies may reduce their ability to manage local monetary systems and economies, to detrimental effect.
In other news: Fund execs offer $1M bets that Bitcoin’s S2F model won’t come true (https://ccw.fm/3Wvo6). Two executives at crypto hedge funds are prepared to place bets against the Bitcoin stock-to-flow model, developed by Dutch investor Plan B, which predicts a price of $100,000-$288,000 before December 2021. Eric Wall, chief investment officer of crypto hedge fund Arcane Assets, is willing to stake $1 million that the prediction will fail. He’s so sure, he’s extended the wager period to 2025. And Ari Paul, CIO at BlockTower Capital, says he would give 3:1 odds on the same bet against the S2F model, which means he’ll gain $1 million if he wins and have to pay out $3 million if he loses.
Finally, InvestorBrandNetwork (“IBN”) Announces Latest Episode of Stock2Me Podcast Featuring Bestselling Author John Truman Wolfe (https://ccw.fm/38rC3). The Stock2Me Podcast, hosted by Stuart Smith, is an initiative of InvestorBrandNetwork (“IBN”), a multifaceted communications organization that connects public companies to the investment community. The podcast is designed to provide specialized content distribution via widespread syndication channels. The current episode features Strategic Financial Intelligence editor John Truman Wolfe sharing his perspectives on the continuing evolution and adoption of decentralized currencies, the impending rise of centralized digital currencies and the long-term effects of recent economic policy decisions in the U.S.
To view the most recent episode of the Wild West Crypto Show, now on TV in 45 cities across the nation, including its ongoing segment from CryptoCurrencyWire featuring the latest news from around the world, visit https://ccw.fm/p1DyD
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