As sanctioned Russia’s fiat currency soars in value against the U.S. dollar, and crypto markets remain unpredictable, economists and crypto enthusiasts continue to puzzle and debate over what the next market move will be. In spite of this, several influential voices remain unperturbed when it comes to the future of decentralized digital assets, with Salvadoran president Nayib Bukele, Tesla and Spacex CEO Elon Musk, and Shark Tank’s Kevin O’Leary all recently reaffirming their faith in the cryptocurrency ecosystem in one way or another. Here’s the Bitcoin.com News Week in Review.
Russian Ruble Taps 7-Year High Against the US Dollar — Economist Says ‘Don’t Ignore the Exchange Rate’
Recent news reports have detailed that Russia’s fiat currency, the ruble, was the best performing currency worldwide and the articles explained that American economists were perplexed by the trend. The Russian ruble rose to $55.47 on Monday. This was its highest rise since 2015. While many have dismissed the ruble’s exchange rate, Charles Lichfield, the Atlantic Council’s Geoeconomics Center deputy director, published an editorial called: “Don’t ignore the exchange rate: How a strong ruble can shield Russia.”
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Salvadoran President for Bitcoin Investors: Your BTC investment is safe and will continue to grow after the bear market
El Salvador’s President has some words of wisdom for Bitcoin investors. He believes investments in the largest cryptocurrency are safe and will “immensely grow” after the bear market.
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Tesla CEO Elon Musk Confirms He’ll Keep Buying and Supporting Dogecoin
Elon Musk (Spacex CEO) has confirmed his belief in dogecoin and stated that he will continue buying the cryptocurrency. Following his comments, the price for dogecoin rose amid a cryptocurrency market slump.
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Kevin O’Leary Says He Won’t Sell Any Crypto Despite Downturn – ‘You Just Have to Stomach It’
Shark Tank star Kevin O’Leary, aka Mr. Amazing says he won’t sell his cryptos despite the market slump. “Long term, you just have to stomach it. You have to understand you’ll get volatility,” he stressed.
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