#22 Daily Financial News Round Up - Nov 22,2021
What news caught my attention?
El Salvador, the first country to adopt Bitcoin as a national currency, now wants to issue $1 billion in bonds backed by Bitcoin. President Nayib Bukele of El Salvador is one of the biggest proponents of cryptocurrency, specifically Bitcoin. Some of the funds raised through these bonds will go towards building a city with no taxes on income, property and capital gains. This dream city is known as “Bitcoin City”.
U.S. inflation is at its highest rate in 31 years.
President Biden announced that he wants Powell as Fed Chairman for a new term.
U.S. home sales this year could be the biggest year in 15 years - thanks to the pandemic.
My Takeaways:
Bitcoin bond and Bitcoin City - innovation seems to be finally catching onto the vision.