NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Why Bitcoin Matters: Ghana Finance Crisis Ties Up $1.6 Billion for 70,000

Nick Chong
Nick Chong
1 year ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

For the longest time, Bitcoin (BTC) has been viewed as something with no inherent value.

Legendary investor Warren Buffett, for instance, once called the cryptocurrency “rat poison squared”, later explaining that there isn’t much inherent value in the project. Other notable players in finance and politics, including U.S. President Donald Trump, have echoed this analysis, using phrases like “thin air” and “unbacked” to get their point across.

Related Reading: Bullish for Bitcoin Price: Wall Street’s Ex-Central Bankers Advocate For “Free Money”

Unlike traditional stocks and assets, Bitcoin doesn’t provide a fixed yield, a dividend, or generate cash flow. And compared to traditional and modern fiat currencies, BTC isn’t backed by the power of a government or the scarcity of an underlying asset.

But, a series of recent macroeconomic and geopolitical events all across the world have begun to prove that Bitcoin is needed, whether governments, Wall Street, Silicon Valley, or central bankers like it or not.

Bitcoin is Needed, Now

According to a recent report from Bloomberg, Ghana is in the midst of a financial crisis. The report, published this weekend, suggests that there are 70,000 Ghanaian investors affected in a “cleanup” of the nation’s banking industry.

The outlet writes that the crackdown, which resulted in many local lenders and savings companies shuttering their businesses, “triggered a run on fund managers”, most of which who weren’t liquid enough to satisfy the demands of their investors.

A banking crisis in Ghana means $1.6 billion of savings is now possibly gone for 70,000 investors.

The savings of tens of thousands wiped-out over night.

This is why saving your wealth should be simple and not need a middleman.

Bitcoin fixes this.

— Rhythm (@Rhythmtrader) August 19, 2019

Due to this, there exist a purported 70,000 Ghanian investors who can’t access $1.6 billion worth of their investments, more than a third of the African country’s private fund sector. Yikes.

According to cryptocurrency commentator Rhythm, Bitcoin “fixes this”. What he/she seems to be referring to is the fact that unlike the traditional fiat system, Bitcoin and other decentralized technologies don’t require middlemen.

Should you be investing in the right products and with the right infrastructure, you should be the only one that can manage your Bitcoin and cryptocurrency investments.

This crisis in Ghana is somewhat reminiscent of what happened in Cyprus around five years ago. For those who missed the memo, the European island nation was required to bail in its commercial banks, resulting in thousands losing their wealth, a run on the banks, and a subsequent spike in local Bitcoin demand.

Of course, Ghana is in a different situation, but the underlying need for Bitcoin then and now is all the same, if not more accentuated. Bitcoin is decentralized, non-sovereign, scarce, immutable, programmable, and unconfiscatable.

Related Reading: Bitcoin as a Safe Haven: Yet Another Recession Indicator Flashes

World is Screaming for An Alternate Economy

This crisis comes as many other facets of the world are starting to scream for something new, something different.

Just look to Argentina, where the incumbent president lost a recent race to someone who analysts say will plunge the South American economy into yet another bout of chaos. This political result led to a 20% collapse in the Peso against the U.S. Dollar, a 50% collapse in the local stock market, and a slight uptick in Bitcoin volumes and a premium for cryptocurrency.

There’s also a crisis in Hong Kong, where literally millions of locals have been taking to the streets to protest the actions of the local government and the mainland Chinese government, who they say are encroaching on their democratic freedoms. There, too, a premium on the price of Bitcoin has been seen.

Bitcoin, according to a growing number of analysts, is a perfect hedge against macroeconomic turmoil, geopolitical debacles, inflationary monetary policies, irresponsible fiscal policy, and so on and so forth.

Featured Image from Shutterstock
Tweet123Share196ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Dogecoin

Dogecoin Megaphone Pattern Confirms Price Blowup, ‘Don’t Miss This Last Rally’—Analyst

Crypto analyst TradingShot has drawn attention to a bullish pattern for Dogecoin, indicating that a significant price surge is on...

Scott Matherson 4 hours ago
Bitcoin Dominance Continues Its Historic Climb – Altcoins Struggle To Gain Ground

Bitcoin Dominance Continues Historic Climb – Altcoins Struggle To Gain Ground

Bitcoin has officially entered a new chapter in its bull market, surging to fresh all-time highs near $118,800 after weeks...

Sebastian Villafuerte 7 hours ago
Crypto Founder Pushes Ethereum As World Reserve Asset: A Yield-Backed Store Of Value

Crypto Founder Pushes Ethereum As ‘World Reserve Asset’ – Details

Ethereum has finally broken above the critical $2,850 level, igniting momentum across the broader altcoin market. After weeks of sideways...

Sebastian Villafuerte 8 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Pi Network Turns Heads With Symbolic Transfers, $20M Volume Spike

Christian Encila 1 hour ago

Web2 Habits, Web3 Rewards: How FUNToken Makes Crypto Feel Natural

News BTC 1 hour ago
Bitcoin

Bitcoin SOPR Signals More Gains Ahead Despite New ATH – Analyst

Semilore Faleti 2 hours ago

Premium Sponsors

Press Releases

  • ビットコインが11万8,000ドルの最高値を記録する中で注目すべき仮想通貨プレセール

    ...

    7 minutes ago
  • 仮想通貨 おすすめ|急騰するDogwifhatとFartcoin、注目の低価格ミームコインとは?

    仮想通貨...

    21 minutes ago
  • 新しい仮想通貨価格動向|話題の最新コインの成長可能性

    ...

    34 minutes ago
  • アルトコイン注目銘柄|2025年7月第2週に見るべき3銘柄

    ...

    45 minutes ago
  • ロビンフッドが1ドルから始めるETHとSOLのステーキングを開始──今注目の仮想通貨投資はこれだ?

    ...

    57 minutes ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.