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As African nations face banking challenges, Bitcoin offers a disruptive and transformative alternative to traditional financial systems, potentially unlocking economic power for those previously left out.
The emergence of NFT Ordinals has caused blocks to increase in size and commission payments to miners to rise, as Bitcoin’s Taproot usage skyrockets by 800%.
A report by the Basel Committee on Banking Supervision reveals that banks’ exposure to Bitcoin and cryptocurrencies worldwide has dropped to 40%, citing market falls in 2022 and bankruptcies in the sector.
New academic study from the US Federal Reserve System concludes that Bitcoin’s “orthogonal properties” make it an ideal defensive asset for hedging traditional financial assets, challenging the popular opinion that Bitcoin is only a speculative asset.
ARK Invest expressed, in a recent report, the belief that the price of Bitcoin (BTC) could exceed one million dollars in the coming years and pointed out that the long-term opportunity for Bitcoin is getting better and better.