Entrepreneur and popular author Jeff Booth has predicted a grim future for fiat currencies, expecting them to fail as central banks keep printing money. Foreseeing an unavoidable, severe depression and banking failure, he believes bitcoin will become the world’s reserve currency and all national currencies will be pegged to it.
An exodus of upward of 40,000 Bitcoin from derivatives exchanges BitMEX might have pushed up Bitcoin’s transaction fees. Meanwhile, Ethereum’s have fallen.
A growing number of Egyptians are reportedly turning to bitcoin amid rising unemployment and the economic crisis. An Egyptian bitcoin community is seeing a huge spike in the number of members interested in bitcoin mining and trading.
