Trading & Financial News
No Result
View All Result
Friday, April 18, 2025
  • Login
  • Economy
  • Markets
  • Forex News
  • Investing
  • Stock Trading
  • Crypto
Subscribe
Trading & Financial News
  • Economy
  • Markets
  • Forex News
  • Investing
  • Stock Trading
  • Crypto
No Result
View All Result
Trading & Financial News
No Result
View All Result
Home Markets

Bitcoin gift cards amplifying spending power of crypto

by Tradinghow
August 14, 2023
in Markets
A A
0
Bitcoin gift cards amplifying spending power of crypto
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter


Grayscale Investments CEO Michael Sonnenshein discusses his firm’s lawsuit against the SEC for denying its spot bitcoin ETF on ‘The Claman Countdown.’

Consumer bitcoin provider Azteco recently announced a $6 million seed funding round at an $84M valuation led by Jack Dorsey as the company introduces bitcoin gift cards to enhance the cryptocurrency’s spending power near the level of the U.S. dollar. 

Amid persistent inflationary pressures in the U.S., many investors are looking into digital assets as a hedge against the weakened dollar. At the same time, changing views on bitcoin are establishing the currency as a player in the American economy.

“My contribution to Azteco comes out of a deep respect for their mission. The unbanked population is immense,” Jack Dorsey said after the funding announcement. 

BITCOIN ON ROAD TO $120,000 BY END OF 2024

Longtime Bitcoin backer Jack Dorsey contributed $4 million of his own money to help fund Azteco.  (Getty Images  / Getty Images)

“We have the technology and resources to close this gap, but until now, no one has taken that important next step,” he added. “Azteco is providing so much more than just access to a secure financial system; it is building an ecosystem of financial self-determination that is secure and supported by local communities. I am honored to support them.”

SHORT SELLER ACCUSES JACK DORSEY’S BLOCK OF FACILITATING FRAUD

Also designed to bridge geographical boundaries in the retail industry, bitcoin gift cards, or vouchers, provide in-person storefronts and e-commerce platforms around the globe while democratizing access to financial services and reshaping consumer-retailer interactions in an increasingly interconnected digital economy, according to Azteco.

Azteco CEO and founder Akin Fernandez  (Azteco)

“Trusting a third party as the issuer of money can result in that third party becoming a single point of failure. As the Federal Reserve and every other Fiat currency that has ever existed has proven, the incentive to cheat is irresistible. By removing this incentive through the issuer and replacing him with a computer program, bitcoin can run a politically and financially neutral, global synthetic money for people everywhere,” Azteco CEO and founder Akin Fernandez told FOX Business.

BITCOIN ON TRACK TO CHALLENGE U.S. DOLLAR?

The U.S. economy has been mired in inflation and a devalued currency, leading to a banking crisis and a raised investor interest in not only material wealth like gold and silver, but in digital assets like cryptocurrency.

https://primexbt.investments/start_trading/?cxd=459_549985&pid=459&promo=[afp7]&type=IB https://primexbt.investments/start_trading/?cxd=459_549985&pid=459&promo=[afp7]&type=IB https://primexbt.investments/start_trading/?cxd=459_549985&pid=459&promo=[afp7]&type=IB

Central banks and the Fed are already discussing the implementation of a digital dollar. Meanwhile, BlackRock filed for a bitcoin ETF with the Securities and Exchange Commission in June. 

Larry Fink, chairman and CEO of BlackRock, speaks on the sidelines of the opening day of the World Economic Forum in Davos, Switzerland, Jan. 17, 2023.  (Hollie Adams/Bloomberg via Getty Images / Getty Images)

“The fundamental problem with the U.S. dollar is that its supply is controlled by a small committee of private bankers focused solely on the shareholders’ interests. America’s Constitution considers only gold and silver money, which was arguably done deliberately to remove the inevitable corruption that follows when people are in control of the money supply,” Fernandez said.

BITCOIN BONNIE AND CLYDE’ PLEAD GUILTY TO MONEY LAUNDERING HACKED CRYPTO

“Bitcoin solves this problem by replacing a committee of men with an infallible computer program.”

Already, Azteco has over 590,000 payment locations in more than 190 countries on the ground floor facilitating development.

BITCOIN ON ROAD TO $120,000 BY END OF 2024

“In the U.S., an estimated 4.5% of households were ‘unbanked’ in 2021 with no access to eCommerce, meaning they couldn’t buy from Amazon, get a bank loan, send money or receive it electronically. Bitcoin fixes this by giving them around-the-clock global access to a frictionless financial rail using instant transactions that are guaranteed free of payer fraud,” Fernandez said.  

MicroStrategy Executive Chairman Michael Saylor breaks down the bitcoin rally on ‘Making Money with Charles Payne.’

GET FOX BUSINESS ON THE GO BY CLICKING HERE

“There are 2 billion people unbanked on Earth, and the country that becomes the center of this new financial system will be raking in taxes from 2 billion people,” he continued. “A move to bitcoin will greatly enhance the U.S. economy. America’s most prosperous era was when it was on the gold standard and the money supply was strictly constrained. Strong economies are built on saving, not spending.”



Source link

  • Trending
  • Comments
  • Latest
The Evolving International Cannabis Landscape

The Evolving International Cannabis Landscape

March 20, 2024
UK Faces Two Decades of No Earnings Growth and More Austerity

UK Faces Two Decades of No Earnings Growth and More Austerity

July 29, 2023
Emirates Steel drops interest in Thyssenkrupp steel unit

Emirates Steel drops interest in Thyssenkrupp steel unit

July 27, 2023
Uniswap Launches Permissionless Bridging Across 9 Networks

Uniswap Launches Permissionless Bridging Across 9 Networks

October 24, 2024
High Street Retailers Pin Hopes On Discount Splurge In Black Friday Fever

High Street Retailers Pin Hopes On Discount Splurge In Black Friday Fever

0
UK Faces Two Decades of No Earnings Growth and More Austerity

UK Faces Two Decades of No Earnings Growth and More Austerity

0
Learn how to trade. For beginners

Learn how to trade. For beginners

0
Trading for beginners

Trading for beginners

0
Kim Soo Hyun breaks silence on financial trouble amid lawsuit discrepancy: ‘We did not fail to pay…’ | Web-series News

Kim Soo Hyun breaks silence on financial trouble amid lawsuit discrepancy: ‘We did not fail to pay…’ | Web-series News

April 18, 2025
Mortgage Rate Fatigue? Here’s How to Get Off the Seesaw of Wondering When to Buy

Mortgage Rate Fatigue? Here’s How to Get Off the Seesaw of Wondering When to Buy

April 18, 2025
TransPacific Cargo Trade Decimated by Trump’s Tariff War

TransPacific Cargo Trade Decimated by Trump’s Tariff War

April 18, 2025
GITEX Nigeria 2025: Government Support Fuels New Tech Era

GITEX Nigeria 2025: Government Support Fuels New Tech Era

April 17, 2025

Recent News

Kim Soo Hyun breaks silence on financial trouble amid lawsuit discrepancy: ‘We did not fail to pay…’ | Web-series News

Kim Soo Hyun breaks silence on financial trouble amid lawsuit discrepancy: ‘We did not fail to pay…’ | Web-series News

April 18, 2025
Mortgage Rate Fatigue? Here’s How to Get Off the Seesaw of Wondering When to Buy

Mortgage Rate Fatigue? Here’s How to Get Off the Seesaw of Wondering When to Buy

April 18, 2025

Categories

  • Business
  • Crypto
  • Economy
  • Forex News
  • Investing
  • Markets
  • More
  • Stock Trading
  • Trading for beginners

Site Navigation

  • Home
  • Contact Us
  • Stock Trading
  • Markets
  • Investing
  • Other Links
  • Privacy & Policy
Trading & Financial News

We bring you the fastest breaking news on Trading, forex, and finance submitted from credible and reliable news sources around the world.

© 2023 Tradinghow Useful forex analysis and financial news, submitted by credible news sources around the world.tradinghow.

No Result
View All Result
  • Contact Us
  • Home
  • Economy
  • Crypto
  • Investing
  • Markets
  • Forex News
  • Stock Trading

© 2023 Tradinghow Useful forex analysis and financial news, submitted by credible news sources around the world.tradinghow.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In