In the period from January to November last year, Brazil experienced a 36% decrease in Foreign Direct Investment (FDI), reaching 52.716 million dollars, according to data from the Central Bank. Equity holdings fell by 22.8%, while lending operations between parent companies and subsidiaries plummeted by 85.6% compared to the same period in 2022.

Despite these figures, foreign direct investment in November showed a rebound of 2.6% compared to the same month of the previous year, reaching 7.78 billion dollars, according to the issuing body.

In the last 12 months to November 2023, FDI totalled $57.7 billion, representing 2.68% of Gross Domestic Product (GDP), down from 4.01% in the immediately preceding period.

The country ‘ s international reserves increased by $8.2 billion from October 2023 to $348.4 billion for that month.

Despite economic growth of 3% in 2023, according to financial market forecasts, a sharp slowdown is expected in 2024, with GDP expansion limited to 1.5%.

K. Tovar

Source: Bancaynegocios

(Reference image source: @MundoEConflicto, X)

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La entrada Investment in Brazil fell 36% between January and November apareció primero en Bitfinance.

This Monday, the value of Bitcoin, the main digital currency on the market, reached USD 42,000. Investors expect the bullish trend to continue, despite expectations for the Fed’s announcements next week.

Analysts consider that this is a revaluation of the cryptocurrency above 5 %. And they add that it may be influenced by the new employment data in the United States, which will be announced this Friday, December 8.

Revaluation of Bitcoin amid adverse factors

Without a doubt, the monetary policy of the North American country facing 2024, and taking into account that it will be the year of presidential elections, directly influences the value of bitcoin. To any measure announced by the Federal Reserve, a possible authorization in January of a bitcoin ETF by the SEC must be added, in addition to the reduction that bitcoin miners suffer every four years in their reward, known as halving.

Amid adverse circumstances in the crypto market, such as the recent sentencing of FTX CEO Sam Bankman-Fried and the fine imposed on Binance CEO Changpeng Zao, who also had to leave office, the authorities’ decisions are leveraging the confidence in bitcoin, which this Monday reached USD 42,000, and then stabilized and closed around $41,537.

M.Pino

With information from international media and social networks

(Reference image source: Traxer, Unsplash)

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La entrada Bitcoin price reached USD 42,000 apareció primero en Bitfinance.

On October 4, the various dollar quotes that coexist in Argentina reached historical records. In particular, the parallel or “blue” dollar, which savers turn to due to restrictions on acquiring foreign currency in the official market, reached 840 pesos per unit just over two weeks before the presidential elections.

The Argentine Central Bank faces low reserves, the depreciation of the peso due to accelerated local issuance and uncertainty about a possible government led by the libertarian Javier Milei, who advocates the dollarization of the economy. These factors have significantly impacted the currency market, which anticipates a marked devaluation.

Economist Gustavo Ber noted in his Ber Study report: “Concerns about reserves are increasing among operators, since incentives for the supply of foreign currency are failing to cover the growing needs for intervention in financial dollars.”

In this context, the “counted with settlement” dollar (CCL), which involves buying local assets in Argentine pesos and selling them in dollars on Wall Street, experienced an increase of 8 %, reaching 904.99 pesos per unit.

For its part, the “Electronic Payment Market” dollar or “stock exchange dollar” (MEP), obtained through the purchase of assets acquired in pesos and their subsequent sale in dollars in the Argentine stock market, rose 3.8 % to 747 .68 pesos per unit.

K. Tovar

Source: Bancaynegocios

(Reference image source: Colin Watts, Unsplash)

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La entrada Dollar in Argentina continues to rise apareció primero en Bitfinance.

The value of Bitcoin reached US$ 26,000 on Tuesday, in an adverse scenario marked by fear among investors after the bankruptcy of Silicon Valley Bank.

The main cryptocurrency in the global market marked the main rise at the close after nine months of ups and downs.

According to analysts, the rebound in the value of bitcoin is marked by a slowdown in inflation in the United States to 6 % year-on-year.

Another factor that has favored the increase in the price of digital currency is the decision of the Federal Reserve to intervene in Silicon Valley Bank.

M.Pino

Source: eluniversal

(Reference image source: Traxer, Unsplash)

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La entrada Bitcoin price reached US$ 26,300 apareció primero en Bitfinance.

Digital payments, through various technological platforms, have penetrated most markets. The European Union seeks its standardization and is pressing in Brussels so that all member countries can adapt to this instant digital payment system.

The fact of being able to carry out a transaction in a few seconds makes life easier for customers of banks, stores, corporations. Even payments to workers are now much simpler, and can be made from anywhere in the world.

The novelties that will be introduced in the banking service in the EU are focused on the offer by all banks of the instant payment and transfer service, as well as the collection of a commission that is not higher than the amount of the transaction.

Of course, a clear, standard regulation is required, with the proper supervision of financial organizations, so that it does not become a niche for cyberattacks or other risks that affect the digital universe.

The European Commission, through the Commissioner for Financial Services, Mairead McGuinness, has underlined the importance of the circulation of money, currently accessible in a click through digital platforms. They have mentioned Bizum as an example, without forgetting that regulations are required from Brussels to shorten the standardization times that have been uneven in the European Union until now.

In other territories, alternatives to Bizum include PayPal, Revolut, Bnex, Twyp, among other instruments that facilitate transfers and payments independently.

Any decision in this sense must, however, go through the European Parliament and receive the approval of the Twenty-seven before reaching the population.

M.Pino

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With information from international media

La entrada European Commission in favor of instant digital payments across the continent apareció primero en Bitfinance.

Jerome Powell was ratified as president of the Federal Reserve by the president of the United States, Joe Biden, who also selected Governor Lael Brainard as vice president. Biden decided for administrative continuity in times when the country’s economy is impacted by an increase in the inflationary indices.

According to Biden in an official statement, “president Powell has offered strong leadership during a period of unprecedented challenges, including the largest economic contraction in modern history.” He recognized the fundamental role that Powell has played at the head of the institution during the pandemic.

Powell’s ratification has been very well received in the financial market. Wall Street opened higher, the dollar reacted favorably, strengthening against the euro and the 10-year bonds registered an increase of 1.6 %.

Senate ratification of Powell

The Senate must ratify the re-election of Powell to the head of the Fed. It is made up of equal parts between Democrats and Republicans, although Biden’s party has the determining vote in the election. Powell, who was first appointed by former President Trump, has the support of Democrats.

Brainard, who was appointed governor of the Fed under Barack Obama presidencial term, also has the support of the majority of Democrats and stands out for supporting the goal of full employment.

With the Powell-Brainard combination, Biden hopes to strike a balance between the two political forces that influence the Fed. The US President has yet to select three representatives to the Federal Reserve Board of Governors, including the post of vice president of supervision. He should complete the selection in early December with a commitment to improve diversity in the composition of the Board.

M. Rodríguez

Source: cincodias.elpais.com

La entrada Powell for a second period as president of the Federal Reserve apareció primero en Bitfinance.

The Brazilian financial entity Nubank has collected 500 million dollars from Berkshire Hathaway, a multinational holding company led by billionaire Warren Buffett, which will be used to develop its expansion in the global financial market.

The announcement was made this Tuesday, June 8, by its executive director, David Vélez, who also highlighted that they have more than 40 million users in Brazil, Mexico and Colombia.

The digital bank was recently launched in Colombia, achieving significant enrollment figures, stating that in Latin America half of the inhabitants have bank accounts and only approximately 21 % have credit cards, with the goal of attracting new executives from the main technology companies

According to Vélez: “No one thought that it was possible to change the financial system, but we were always convinced that there was room for disruption and innovation and, more importantly, that customers deserved better service.”

Warren Buffett, Chairman of Berkshire Hathaway, has referred to cryptocurrencies and especially bitcoin as “worthless” currencies, refusing to obtain them. However, the investments made in the last year of the multinational conglomerate are aimed at companies related to cloud technology in the Snowflake cloud. Berkshire Hathaway, plus billions of dollars in Apple and Amazon stock.

M. Rodríguez

Fuente: cointegraph.com

La entrada Berkshire Hathway invests USD 500 million in Brazilian digital bank apareció primero en Bitfinance.

The multinational financial services company Martercard has reported that by the end of 2021 merchants will be able to receive payments in cryptocurrencies, a modality that will allow customers to mobilize digital, traditional or crypto value at their convenience.

The news was released through a statement published on the company’s official blog, which specifies that the measures are due to the economic behavior of cryptocurrencies, which have become increasingly more relevant.

“We are here to allow clients, merchants and businesses to move digital value – traditional or crypto – however they want. It must be your decision, it’s your money ”, as outlined in the statement.

Likewise, the multinational confirmed that it continues to work “right now for the future of cryptocurrencies and payments, announcing that this year Mastercard will begin to admit selected cryptocurrencies directly to our network”. It highlights the company’s intentions to continue in the market allied with crypto.

They also assured that they will remain “attentive to the assets that we support based on our principles for digital currencies, which focus on consumer protection and compliance.“

K. Villarroel

Source: diariobitcoin

La entrada Mastercard will let merchants receive cryptocurrencies apareció primero en Bitfinance.