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Welcome back to Bitcoinomics21, and I appreciate you being here. I want to give an update of how the format will be for the coming weeks. Every Monday and Thursday, I will upload videos from my interviews and presentations. I would love it if you watched those, but however, if there’s only one item you can focus on, I’d recommend the Wednesday “Bitcoin News Blast”. That’s where I’ll list out the top 2 news worthy events that happened in the Bitcoin/crypto/global economic sphere. It’ll just be two to keep it nice and simple and not overburden your brain with “Crypto this!” and “Buy that!”. Additionally, I’ll be mentioning one learning about Bitcoin so everyone can learn simultaneously. Without further ado, welcome and I hope you enjoy Bitcoinomics21!
Trump Signs GENIUS Act to Regulate Stablecoins - AP
What does it stand for? Guiding and Establishing National Innovation for U.S. Stablecoins
What just happened? Trump signed a law that establishes a regulatory framework for $250 billion Stablecoin Market
Why does this matter? It allows banks to issue their own Stablecoins, which could allow nearly-instant and lower-cost transactions.
Okay, and? Banks such as JP Morgan Chase, Citigroup, Bank of America, are considering investing money into Stablecoins which would inject more money into the cryptocurrency ecosystem. A rising tide lifts all ships.
What’s a Stablecoin? It’s a cryptocurrency pegged to a fiat currency or a commodity. So in this instance, USDT and USDC (Stablecoins) are pegged to the USD. It means, one USDC = USDT = USD.
Hot take: The USD continues to devalue so what will this mean in 5-10 years?
Crypto to be considered an Asset when Buying Mortgages - AP
The head of the federal government agency that oversees Fannie Mae and Freddie Mac ordered them to consider cryptocurrency holdings in their criteria for buying mortgages.
Bitcoin101: What is Bitcoin?
Bitcoin is the first digital currency that allows digital transactions. These transactions are recorded on the Blockchain.
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