Crypto.IQ Daily Digest June 26, 2018

ADOPTION • REGULATION

Lithuania Enjoying Cryptocurrency Boom as EU Banks Fret
from LIVEBITCOINNEWS.COM

+IQ THOUGHTS

Sometimes it’s tough to be on the sidelines, watching governments do things that are inept or short sighted.

We’re not naming names, but it’s clear to anyone paying attention that there are some governments around the globe that are embracing crypto, like Lithuania. And it’s paying off for them. Lithuania’s economy is projected to grow by 3.1 percent, roughly one percent higher than the European average.

Other nations are groping around in the dark and making small steps toward regulation, and some are digging in their heels and trying to claw their way back to a fiat world.

It would be fun to watch if it didn’t affect billions of people, who desperately need crypto to join the global economy and pull themselves out of poverty.

BITCOIN • ADOPTION • INFLATION

Venezuela’s Fight With Inflation May Have Helped Cryptocurrency Acceptance
from BLOKT.COM

+IQ THOUGHTS

We hope more countries don’t need to go through an ordeal like Venezuela’s before they make the move to cryptocurrency.

Every garden needs some manure, to use an less than appealing analogy for how crypto adoption is happening in Venezuela. But it’s true, you sometimes need what’s bad to cover everything with its stench in order to see what needs to change, what’s possible. In this case, it’s seeing how bad the fiat system is order to see the solution.

For Venezuelans, it has been watching their leaders literally get fat while the populace starved.
In scenes reminiscent of post World War I Germany, Venezuelans are lugging sacks of Bolivars to the store to buy bread and other essentials. With inflation approaching 14,000 percent, what they could buy for one Bolivar a year ago, now costs close to 150.

It’s been a painful path but one that has led to mass Bitcoin adoption as people scramble to preserve what wealth they still possess.

With inflation a major problem in most countries, we think it’s prudent to hold some wealth in cryptocurrency. Now. Before the inflation rate climbs into the thousands.