Is it Game Over for Easy Money?!The US Federal Reserve has had another meeting this week, deciding unanimously to increase the interest rates by half a percentage point, setting the scene for economies to do the same around the world. With more interest rate hikes planned throughout the year, does this mean the end of “easy money” for crypto investments?
US makes biggest interest rate rise in 22 yearsThe US central bank announced its biggest interest rate increase in more than two decades, increasing its benchmark rate by 0.5 percentage points to a target rate range of between 0.75% and 1%. This of course follows on the 0.25 percentage point increase in March.
BINANCE invests $500 Million towards Elon Musk’s Twitter acquisitionBinance, one of the largest global crypto exchanges, has shown up in a list of 18 other investors giving Elon Musk financial backing for his twitter acquisition. Binance is one of the only crypto related companies on the list, but the company is committing to invest $500 million towards Musk’s plan.
Microstrategy would face margin call if Bitcoin drops below $21,000Microstrategy has amassed more than 129,000 bitcoin since the software company began buying the cryptocurrency with debt in 2020. CFO Phong Le recently said in an earnings call that the coin would have to drop below $21,000 before the company would have a margin call
WWOC: Looking Back to Indian Prime Minister’s social media mishap.Looking back at one of our favourite weird crypto stories of the past, Ben and Kevin recall the story of the Indian Prime Minister Narendra Modi and his social media fiasco where he promised his citizens free BTC.
What we cover in this episode:
- US and UK inflation rate hikes
- Crypto Market predictions
- Binance invests in Musk Twitter Acquisition
- Microstrategy would face market call if Bitcoin fell under $21,000
- Weird World of Crypto
- Final thoughts