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Vaneck Predicts Bitcoin Could Reach $2.9 Million by 2050

[Jul 29 12:30 AM] Asset management firm Vaneck released a report projecting bitcoin could reach $2.9 million per coin by 2050, becoming a global medium of exchange and reserve currency. The report suggests bitcoin could settle 10% of global international trade and…

IMF Data Shows Decline in US Dollar Dominance

[Jun 15 4:06 PM] Recent data from the International Monetary Fund (IMF) points to an ongoing decline in the U.S. dollar’s share of allocated foreign reserves held by central banks and governments. Economists explained that reserve managers are attracted to…

Ethiopia Joins Egypt in Seeking BRICS Membership

[Jul 2, 2023 11:30 PM] Ethiopia has joined Egypt and Algeria in applying to become a member of Brazil, Russia, India, China and South Africa (BRICS) economic bloc. According to the Ethiopian Foreign Affairs Ministry, joining the bloc would help the country guarantee its…

BRICS Nations to Encourage Use of Local Currencies in Trade

[Jun 2, 2023 7:30 PM] Countries in the BRICS bloc intend to encourage the use of local currencies in cross-border trade, their foreign ministers revealed. The top diplomats, who met in South Africa, also emphasized the importance of financial inclusion, welcoming new…