The Bitcoin, Fiat and Rock’n’Roll News
This week, Alexander, Jonas, and Michael rank the relevant developments in the CBDC and crypto scene in a new news episode: Lagarde forges ahead on the digital euro. The Chinese CBDC project DC/EP is progressing inexorably. The bitcoin price is going through the roof and is already correcting again. And – last but not least – there are now signs of a growing appetite for crypto projects among U.S. tech giants as well. What’s behind the headlines?
CBDC: ECB President Christine Lagarde is unexpectedly clear after consultations on the digital euro: “We will have a digital euro.” Lagarde’s brash tactics are interesting. Although no decision has yet been made as to whether the digital euro will actually come, Lagarde formulates a time window of five years for the digital euro.
Bitcoin: The Bitcoin has undergone an unprecedented development. In the past twelve months, it has increased more than six-fold at its peak. More and more institutional investors are flocking to the market. Most recently, Elon Musk and his USD 1.5 billion investment in Bitcoin through Tesla has caused quite a stir.
Coinbase, one of the first and largest crypto exchanges is about to go public and is currently valued at USD 100 billion – equivalent to the market capitalization of Goldman Sachs. Even though the market seems to be becoming more “adult”, the volatility has remained. Price fluctuations of 10% are not uncommon even today.
BigTech goes Digital Money: Tesla’s move into Bitcoin has made big waves. The launch of Facebook’s Diem is also getting closer thanks to a collaboration between financial services firms Fireblocks and First Digital Asset Group. It seems only a matter of time before other US tech giants follow suit. Two clues suggest that Amazon is now also making a push towards its own cryptocurrency. For one, its new CEO, Andy Jassy, is considered crypto-savvy. As head of the cloud service Amazon Web Service, he introduced “Amazon Managed Blockchain.” Previously, the company launched a centralized blockchain-like project – the Amazon Quantum Ledger Database (QLDB) – back in 2018. Second, Amazon has posted a job ad seeking a Software Development Manager for “Digital and Emerging Payments.”
More details and a classification of the news can be found in the podcast. Listen in!
Bitcoin, digital euro or cryptocurrencies: The future of money is being rewritten right now. With the Crypto Corner, we provide a point of orientation for those interested in crypto without getting caught up in hype. Alexander Bechtel and his colleagues from Bitcoin, Fiat & Rock’n’Roll regularly bring useful and interesting content about digital currencies and especially the digital euro here.
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