Hong Kong News
Nonpartisan, Noncommercial, unconstrained.
Friday, Apr 26, 2024
Real, Diverse, Unbiased.
$6 Billion of Bitcoin Options Expire Tomorrow – How Will it Affect BTC Price?
After another week of bitcoin price volatility, including a new all-time high, a new record of options expiring on March 26 could play a key role in price action and the continuation of this volatility moving into the coming days.
If Salvadoreans have been stashing USD as a risk hedge – it is not good for the state – as this stash is in cash – and pressures the local exchange and has no productive use
With BTC and the circulation of USD,if the USD cash starts circulating,it is good for the nation and the banks, and some of the USD will find its way into the banks,and be used for economic activity.
People will take out their hidden USD,buy BTC and SPEND THE MONEY or SPEND THE APPRECIATION IN THE BTC OR THE PROFIT – and that is a gain for the nation.If the banks sell the BTC,then the PHYSICAL DOLLARS, WILL MOVE INTO THE BANK – AND THE NATION CAN USE THE USD,NOT TAKE IMF LOANS,AND THE PEOPLE WILL HAVE DIGITAL DOLLARS WHICH CANNOT BE STOLEN,BURNT,TORN,COUNTERFEITED OR DAMAGED.
Boosting demand for a DIGITAL DOLLAR (BTC),is better than the PHYSICAL USD.
Money laundering cannot happen with the BTC,as the person WHO SELLS THE BTC TO THE STATE,AND RECEIVES USD IN HIS BANK – will have a name and identity,and will need to explain the proceeds,as the date of his acquisition of the BTC,is known.
Even if such a fool exists,he would be trapped by the state,with the BTC.
The Govtt of Salvador,should commit that every Salavadorean,can surrender his BTC to the bank,and get USD,at any time. dindooohindoo