Bitcoin sets all-time high, Vattenfall rejects PoW ban in Sweden and Zimbabwe not considering BTC-adoption

Photo by Executium on Unsplash

Bitcoin price sets new all-time high after U.S. inflation rates

U.S. consumer prices rose last month at the fastest annual pace since 1990, cementing high inflation as a hallmark of the pandemic recovery and eroding spending power even as wages surge.

The consumer price index increased 6.2% from October 2020, according to Labor Department data released Wednesday. The CPI rose 0.9% from September, the largest gain in four months. Both advances exceeded all estimates in a Bloomberg survey of economists.

Right after the moment of publication on Bloomberg, the Bitcoin price rose to an all-time high. The cryptocurrency reached the $69.000 level for the first time ever.

Vattenfall rejects PoW mining ban in Sweden

In Sweden, financial and environmental regulators want to ban PoW mining. Unfortunately, they forgot to add Vattenfall to the email.

Sweden’s biggest green energy power company categorically rejected their claims on national public television.

According to Erick Wall, Chief Investment Officer at Arcane Assets, “they talked about how crypto mining was an excellent ”buffer” in energy production that is highly useful for controllable load management and a way to monetize excess energy which would otherwise go to waste.”

“Their thesis is that if countries with great access and infrastructure to harvest fossil-free fuel were to ban crypto mining, crypto mining will happen in countries and from sources with much worse CO2 emissions. So banning it here would be shooting nature in the foot.”

Source: Bitcoinist

Zimbabwe minister signals CBDC interest amid Bitcoin adoption rumors

Minister Monica Mutsvangwa clarified that Zimbabwe is not considering the adoption of cryptocurrencies or Bitcoin.

She dismissed ongoing rumors about the country considering the adoption of cryptocurrencies and Bitcoin. Rather, Minister Monica Mutsvangwa clarified that the government of Zimbabwe is keen to experiment with a central banking digital currency (CBDC).

“Government would like to assure the nation that it is not considering introducing another currency in the economy as reported in some sections of the media. Our local currency is the Zimbabwe dollar (ZW$) and not cryptocurrency.”

A CBDC is the opposite of Bitcoin: centralized, not scarce, not permissionless and not privacy-friendly.

Source: Cointelegraph

Give us a call on +372 602 6773 or email us at support@crypto2cash.com. Our members of staff are available between 9.00–18.00 CET to answer any question you may have, especially in regards to easily selling your crypto for fiat currencies.

The fast and secure solution to sell crypto for businesses and private individuals alike

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

US Binance US Exchange Review-An Exchange Perfect For US Citizens?

The DODO Journal #5 (Sept 27 - Oct 10, 2021)

Accointing’s crypto tax software is 45% off to kick off tax season

Trittium - Weekly Report #15

How to trade Bitcoin: the best Bitcoin trading strategy

Why There is No Impermanent Loss on DODO

The price of the Shiba Inu exploded by 50%, in the next days?

MOVR News AMA: WanSwap

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Crypto2Cash

Crypto2Cash

The fast and secure solution to sell crypto for businesses and private individuals alike

More from Medium

BTC is Fairly Bullish

Time to buy UCoin!

Do we really need central bank digital coins (CBDCs)?

Tesla now Accepting Dogecoin Payments