In the recap of this week, we found that U.S. & world stock markets are overall climbing to their highest level in 6 weeks, as the European Central Bank prepares to offer new stimulus measures. The United States & China made mutual concessions in their ongoing trade dispute, improving investor demand for equities.
An anonymous entity recently made 1 of the biggest transactions in Bitcoin history at 94,504 bitcoins. At the then-current Bitcoin price of around $10,600, the transaction was worth almost exactly $1B. It’s now worth around $967 million since Bitcoin has dipped below 10K again.
The U.S. is urging Switzerland to ensure its regulations governing cryptocurrencies are sufficient to prevent abuse like money laundering & terrorism, as the European banking hub prepares to host Libra, crypto proposed by Facebook. The project is likely to be backed by global currencies like the U.S. dollar, Euro, Yen, British pound & Singapore dollar. Now seeking a payment system licensed under the Swiss financial watchdog FINMA. European “public digital currency.” France and Germany will block the crypto’s development until consumer risk & governments’ monetary sovereignty were addressed.
Investors luring by bargain-basement prices of Argentina’s stocks; Purdue Pharma reached a tentative agreement in opioids case; Venezuela conducted military drills; Bugatti Chiron prototype can go over 300 miles an hour; Saudi Arabia wants to balance its massive budget & also pull off a $2 trillion valuation for Saudi Aramco.