Crypto Market Overview March 23rd | Dex-Trade
Crypto Market Overview – March 23rd, 2022
El Salvador Postpones The Issuance of Bitcoin Bonds due to putin's War in Ukraine
Salvadoran Finance Minister Alejandro Zelaya said in a TV show that the country will postpone the issuance of its Bitcoin bonds due to the unstable market situation, the main components of which are the growing inflation of the world's largest economies and the European financial crisis due to putin's aggressive war against Ukraine. The bonds were previously expected to be issued on March 15-20. At the same time, Zelaya assured the public twice that the bonds would be issued as scheduled. The last time he spoke about this was last Friday, specifying that the country is ready for such a step and now financial institutions are waiting for permission directly from President Nayib Bukele. To date, the minister believes that the launch may be delayed until about September of this year. At the same time, he added that it’s preferable to receive funds for bonds at the beginning of the half-year, noting that, based on the chronology of several past years, the international market was not always favorable in autumn. However, Zelaya openly stated that, despite all the difficulties, significant demand for Bitcoin bonds is already being registered. In addition, he specified that the dollar equivalent of the planned bonds could be increased by $500 million due to high demand. Notably, the new Bitcoin bonds will offer investors 6.5% per annum for ten years.
Canadian Authorities Confiscated Some of The Bitcoins from The Anti-Vax Canadian “Convoy of Freedom”
The Canadian authorities managed to confiscate 6 of the 21 BTC that the country's largest protest movement, the “Freedom Convoy”, managed to collect. Recall that this was the name of a group of Canadian truckers who announced an indefinite protest against the conditions and restrictions in connection with COVID-19, including the condition of mandatory vaccination for truck drivers crossing the Canada-US border. The action became so large that the Canadian government was forced to use the Emergency Situations Act to stop the protests related to the “Convoy”. At the same time, anti-vax community actively donated to an unregistered organization, including in the crypto. However, according to a blockchain research by CBC News, most of the hundreds of thousands dollars worth of Bitcoin associated with the protesters continued to move between wallets even after the authorities issued an order to freeze them. According to the same publication, the remaining amount of the crypto has already been sent to truckers from the organization on the orders of Nicholas St. Louis, a key activist in the “Freedom Convoy”. By the way, according to the Canadian authorities, on February 28, the police executed a search warrant in St. Louis home and seized about $250,400 worth of Bitcoins. That is, these were the same 6 BTC.
Kiyosaki Calls Bitcoin “People's Money” and Gold “God's Money”
In a recent podcast by The Rich Dad Channel from the author of the global financial bestseller “Rich Dad Poor Dad”, Robert Kiyosaki once again spoke about the potential of crypto for hedging assets and stated that he does not store money in dollars, since their value has decreased by 86% over the past 50 years. Kiyosaki also said that his main savings assets are gold, silver and “digital gold”. In doing so, the financial expert pointed out that digital currencies issued and backed by federal government central banks (CBDCs) will ultimately contribute to hyperinflation. According to the writer, now literally any actions of the US Federal Reserve Service will only lead to an increase in inflation. Even now, speaking of the dollar, financial experts are stating its catastrophic depreciation — the largest in the last 40 years. But bitcoin, according to the writer, has an advantage over dollars due to decentralization: “So the reason I support Bitcoin, and especially blockchain, as it’s decentralized. It’s people’s money. Gold and silver are God’s money.” — Kiyosaki said.