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Bitcoin News Roundup for April 22, 2020
Bitcoin reacts to stimulus packages and the UK bails out big tech. It's CoinDesk's Markets Daily podcast.
Updated Sep 14, 2021, 8:31 a.m. Published Apr 22, 2020, 4:00 p.m.
Bitcoin reacts to stimulus packages and the U.K. bails out Big Tech. It's CoinDesk's Markets Daily podcast.
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Today's stories:
Bitcoin Approaches $7K as US Passes New $480B Stimulus Package
Everledger Offers Diamond Industry Blockchain-Based Carbon Offsetting
UK's Tech Bailout Could Help Blockchain Devs Weather COVID-19 Shutdown
Ripple Sues YouTube for Allowing 'Scams' That Promise Free XRP
makeshift.macaroni(@makeshift.macaroni)
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Japan’s Higher Rates Puts Bitcoin in the Crosshairs of a Yen Carry Unwind
A stronger yen typically coincides with de-risking across macro portfolios, and that dynamic could tighten liquidity conditions that recently helped bitcoin rebound from November’s lows.
What to know:
- The Bank of Japan is expected to raise interest rates to 0.75% at its December meeting, the highest since 1995, affecting global markets including cryptocurrencies.
- A stronger yen could lead to de-risking in macro portfolios, impacting liquidity conditions that have supported bitcoin's recent recovery.
- Governor Kazuo Ueda indicated a high probability of a rate hike, with officials prepared for further tightening if their economic outlook supports it.
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