Bitcoin: 14 Years Ago Today BTC Was Priced at $0.05
In a throwback at Bitcoin‘s early days, Bitcoin historian Pete Rizzo shared a fun fact on X, noting that exactly 14 years ago today, one Bitcoin (BTC) could be purchased for just $0.05.
This historical fact provides a contrast to Bitcoin’s current market value, demonstrating its phenomenal development and adoption over the last decade and a half.
On this day in 2010, Bitcoin was still in its early stages, known only to a few tech enthusiasts and early adopters. The cryptocurrency, created by the mysterious Satoshi Nakamoto, was still in the process of proving its utility and value proposition.
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Peter Schiff Predicts Japan’s Bitcoin Exit as Price Drops: Details
Bitcoin, the largest cryptocurrency by market value, fell below $61,000 in Saturday’s trading session as risk aversion spread throughout financial markets, and Genesis began distributing digital assets to creditors following the completion of its bankruptcy restructuring.
Bitcoin extended its sell-off, dropping to an intraday low of $60,240 after the July U.S. jobs report released on Friday fueled concerns that the world’s largest economy might be in danger of recession. Stocks also sank as the unemployment rate jumped to its highest level since October 2021.
A further sell-off in Japan occurred in response to the Bank of Japan’s most minimal monetary tightening actions on Wednesday when it lifted its benchmark lending rate to 0.25% from a previous range of 0%-0.1%.
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This is the mother of all risks, Piper Sandler warns
In a stark warning, Piper Sandler has identified the global population slowdown as “the mother of all risks.” This demographic shift presents profound implications for global economic stability and growth.
The deceleration in population growth, particularly among the working-age cohort, is poised to create substantial economic headwinds.
Declining global population growth:
Global population growth has been on a downward trajectory since its peak in 1964. The working-age population (ages 15-64) peaked in 1979, and its subsequent decline has significantly contributed to the slowdown in global GDP growth.
Piper Sandler adds that the global population will reach its peak around 2080, six years earlier than previously anticipated .
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Morgan Stanley on Markets: Path to a ‘Goldilocks’ scenario is narrowing
According to Morgan Stanley, the path to a “Goldilocks” scenario—a state of economic equilibrium characterized by moderate growth and low inflation—is becoming increasingly difficult to navigate.
The bank’s latest note highlighted the market’s reaction to a potential start of Federal Reserve rate cuts in September, driven by a noticeable slowdown in June inflation, which caused a significant drop in US Treasury yields and a rotation in equity leadership.
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