It is that time of the week when we highlight some of the major news stories behind crypto. Believe me, you’re going to want to sit back and fasten your seatbelts on this one.
If you thought $100 a barrel of oil was insane wait until you see the record highs this week. Topping off the list was $130 barrel per oil. Yea, that actually happened this week. Although most prices right now are hovering around the $110-120 region, it is still outstanding and in fact quite worrisome with experts still thinking the price could soar higher.
Nevertheless, with oil increasing in price and supply dwindling down, it is safe to assume this issue will be here for a while. Despite the fact that America consumes roughly 3% of oil from Russia, the reason why prices are still hurting us is multifaceted. For one, the uncertainty surrounding the situation with Ukraine leaves the oil market in uncertainty. The price reflects that. Second, supply-chain issues due to the pandemic are another reason for the price hike.
The prices should not reach this level due to the fact that most of our imports don’t even come from Russia. More than half of the imports are thanks to our brothers up North, Canada. They make up around 52% of imports. This seems like the perfect marketing campaign for Elon and Tesla.
“Unstoppable Force” meets "Immovable Object:"
Executive orders, we meet again. It seems this executive order is geared towards researching and finding ways to utilize blockchain technology. One of the major W’s in this order is the fact that regulation in the crypto space will still be delayed.
This order instructs federal agencies to collaborate on digital assets in six areas:
Consumer and investor protection
Financial stability
Illicit finance
U.S. leadership in the global financial system and economic competitiveness.
FinaU.S.ncial inclusion
Responsible innovation
Further, this executive order is also geared towards promoting financial innovation in the space. The order is likely to also pave the way for the creation of a federal digital coin.
Going, Going, Gone:
It seems the USD dollar has met a new foe, inflation. With recent sources reporting inflation has gone up almost 7% in February, it is no wonder why my caramel frappuccino has gone up a couple of cents. (Cough cough basic coffee drink cough cough) Nonetheless, with all those excess dollars printed during the pandemic, inflation is slowly creeping up. Up to ⅓ of the entire monetary supply was printed within the pandemic era. Talk about money going brrrrrr.
Just to wrap our heads around the price differences in one year's time, see below:
The price difference from February 2022 to now.
Is there a substitute for eggs?
Not financial advice:
This week we have decided to see how far we can go with a $100 investment into a crypto coin. We will be tracking the performance and providing bi-weekly updates. The goal of this is for entertainment purposes. We will see how much we can salvage or make with our initial $100 investment.
So which coin did we choose? Drum roll, please.
USHIBA!
Not to get confused with Shiba Inu, this coin was in fact inspired by Shib. It currently sits at 0.00000000003395. That is a lot of zeros. So we headed over to Uniswap(V2) and bought $100 worth of this coin (minus the fees and so forth). We ended up with a ridiculous amount of coins and if it all works out maybe just maybe we can finally get a proper URL for this blog.
So why USHIBA? Primarily due to the name. We thought it was a coin some people will confuse for Shiba Inu and this will allow people to invest in this coin. Other than that it is pure speculation.
Let’s see how far we can get with this investment.
Final Thoughts:
If you like this weekly series give this post a like and comment down below on what you would like us to discuss. Until next time.
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