BITCOIN

Billionaire Elon Musk, the CEO of Tesla and Spacex, has warned that the recession will be “greatly amplified” if the Federal Reserve raises interest rates again next week. He added that things will “probably start looking better” in the second quarter of 2024. Tesla CEO Elon Musk on Recession and Fed’s Rate Hikes Tesla CEO and Twitter chief Elon Musk has reiterated his warning about a recession in the U.S. He tweeted Friday that if the Federal Reserve raises interest rates again next week, the “recession will be greatly amplified.” Musk was further asked on Twitter how long he thinks the recession will last. The Tesla boss replied: Just a rough guess, but things probably start looking better in Q2 2024. This was not the first time Musk warned about the consequences of the Fed hiking interest rates. At the end of November, the billionaire said the trend was concerning. He urged the Federal Reserve to cut interest rates immediately, stating that the U.S. central bank is “massiv...

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says that bitcoin investors will get richer when the Federal Reserve, the Treasury, and Wall Street pivot and trillions of dollars are printed. Robert Kiyosaki Predicts Bitcoin Investors Will Get Richer The author of Rich Dad Poor Dad, Robert Kiyosaki, has predicted that owners of bitcoin will get richer while “fake money savers” will be the biggest losers. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. Kiyosaki tweeted Thursday that people who own gold, silver, and bitcoin will get richer when the Federal Reserve, the Treasury, and Wall Street pivot and trillions of dollars are printed. “Fake money savers will be the biggest losers,” he stressed. The famous author has warned on several occasions...

The states of the European Union have convened to establish a new limit on cash purchases and to strengthen the controls on cryptocurrency transactions. On Nov. 6 the bloc agreed to put a limit of €10,000 ($10,557) on cash payments and to exert stronger oversight on crypto transactions of over 1,000 euros ($1,055). European Union to Limit Cash Usage, Ostensibly to Fight Money Laundering The countries of the European Union have announced a set of new directives to make more difficult the usage of cash and other alternative currencies like crypto for criminal purposes. On Nov. 6, the bloc approved a new limit for cash payments, that will permit up to €10,000 ($10,557) in all of the countries that are part of the union. However, countries will be allowed to reduce the limit even more. Currently, Spain has one of the lowest limits in this regard, allowing citizens to only pay up to €1,000 ($1,055) with cash. However, the European Central Bank (ECB) expressed its disagreement with thi...