News Commentary #1,649 – DollarBill | BTC – Legal Tender But Recession Shock Soon..?!

DollarBill (reviewed here) platform has recently posted more News, related to Crypto financial world sphere in their media channels.

Such news and updates must be useful for everyone now because we see more and more opinions from many different analysts (i get it even from EN readers) that all the financial world is going towards some important changes, which will affect everyone in every country across the globe…

What are they and when it happens? – noone can say for sure, but to build the possible picture we have to be aware of events happening around.

Here’s the news:

Honduras Economic Zone Recognizes Bitcoin As Legal Tender

The Próspera ZEDE economic zone in Honduras announced in a press release that it will make bitcoin a de facto currency. This is a considerable move that is only outdone by El Salvador’s decision to make bitcoin legal tender, even if the move is limited to the economic zone. In the Próspera ZEDE zone, BTC and even other cryptocurrencies will effectively serve as legal tender in the jurisdiction.

The special economic zone (SEZ) is located on the island of Roatán in the Western Caribbean and the Northern Corridor of Honduras. The announcement comes as something of a surprise, and will certainly begin stirring discussion in other countries — depending on how this move pans out, of course.

There are more positive developments as announced in the press release. Municipalities, local governments, and international firms will be able to issue Bitcoin bonds from the SEZ, which is another major move for the asset.

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Bank of America Warns of ‘Recession Shock,’ But Will Crypto Perform Better?

Bank of America strategists warned in a recent weekly research note that the U.S. economy could be heading into a recession, as the Federal Reserve tightens its monetary policy to help curb what it calls “surging inflation.”

On Wednesday, the Federal Reserve said that it will likely pull assets at twice the pace it did in its previous tightening exercise, from its $9 trillion balance sheet at its meeting in early May. According to sources, a large majority of investors also expect the central bank to hike its key interest rate by 50 basis points.

“‘Inflation shock’ worsening, ‘rates shock’ just beginning, ‘recession shock’ coming”, BofA chief investment strategist Michael Hartnett wrote in a note to clients, adding that in this context, cash, volatility, commodities and crypto currencies could outperform bonds and stocks.

Check other news for today and Please stand by..

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