Another spicy week of crypto news heads into the weekend, with Mexico’s third-richest billionaire advising “save your skin” from hyperinflation by buying bitcoin, Shark Tank star Kevin O’Leary predicting that bitcoin mining will “save the world,” Bitcoin.com News noting eerie similarities between the current great monetary shift and the creation of the U.S. Federal Reserve, and SHIB achieving some notable burn statistics. Without further ado, this is your bite-sized digest of the week’s hottest crypto news, the Bitcoin.com News Week in Review.
Buy Bitcoin, ‘Save Your Skin’ — Mexico’s Third Richest Billionaire
The third-richest billionaire in Mexico, Ricardo Salinas Pliego, has shared his experience of living through hyperinflation. He warned that the U.S. and several other civilized countries are “going exactly the same route” his country went through in the 1980s. He warned: “The bad news is that the U.S., and Japan, and the U.K., and the euroblock — they are going exactly the same route my country went in the 80s.”
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The Eerie Similarities of Today’s Great Monetary Shift and the Panic-Led Creation of the Federal Reserve System
While many Americans believe the U.S. Federal Reserve is the caretaker of the country’s monetary system, it’s also believed to be one of the worst financial institutions ever created. In 2022, amid a gloomy economy, war, and a number of global crises, the possibility of a great monetary shift has increased.
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Kevin O’Leary Predicts Trillions of Dollars Will Flood Into Crypto — Says Bitcoin Mining Will ‘Save the World’
Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has predicted that trillions of dollars will flow into cryptocurrencies, particularly bitcoin. In addition, he said bitcoin mining will “save the world.”
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Shiba Inu Burn Rate Hits 26,000%, 1.4 Billion SHIB Burned in 24 Hours
Last Saturday, the second-largest meme-based cryptocurrency, shiba inu, has seen a lot of tokens burned. According to statistics, the network’s burn rate increased by 26,592%, with 1.4 billion SHIB destroyed in 24 hours.
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What do you think? Will bitcoin save your skin from hyperinflation and can bitcoin mining save the world? Is the panic being felt globally going to contribute to something akin to the creation of the Federal Reserve all over again? Let us know your thoughts in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
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