Odaily Planet Daily reports: Former Vice President of the Bank of China, Wang Yongli, authored an article titled “Where Does the Massive Increase in Money Supply Come From?” which points out that modern currency has completely transitioned from metal-backed paper money to a system no longer anchored to any specific tradable wealth asset. Both monetary theory and practice have fully demonstrated that anchoring to any specific wealth will inevitably cause the total money supply to be unable to keep pace with changes in the total value of tradable assets. This can lead to severe constraints or hindrances on exchange transactions and economic and social development due to money shortages. Therefore, returning to the gold standard or seeking new anchors for currency (such as cryptocurrencies like Bitcoin, rare earths, energy, etc.) is a misunderstanding of the nature and developmental laws of money.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Data: 241.34 BTC transferred from anonymous addresses, worth approximately 17.5 million USD
ChainCatcher message: According to Arkham data, at 22:14, 241.34 BTC (worth approximately $17.5 million) was transferred from an anonymous address (starting with bc1q8d9pgx0...) to another anonymous address (starting with bc1qe5vw2...).
GateNews7m ago
Data: Today, the US Bitcoin ETF saw a net inflow of 5,187 BTC, and the Ethereum ETF experienced a net inflow of 43,282 ETH.
ChainCatcher reports that, according to Lookonchain monitoring, today 10 Bitcoin ETFs had a net inflow of 5,187 BTC (worth $375.08 million), 9 Ethereum ETFs had a net inflow of 43,282 ETH (worth $91.76 million), and SOL ETFs had a net inflow of 205,711 SOL (worth $18.72 million).
GateNews7m ago
CleanSpark: In February, mining output was 568 BTC, with a total holding of 13,363 BTC
Odaily Planet Daily reports that NASDAQ-listed Bitcoin mining company CleanSpark has released its latest Bitcoin mining and operations update. The report discloses that the company mined 568 BTC in February, with a total of 1,141 BTC mined so far this year. Additionally, the company revealed that last month it sold 553.02 BTC at a price of $66,279 each. Currently, the total Bitcoin holdings amount to 13,363 BTC. (PRNewswire)
GateNews15m ago
Bitcoin in a tug-of-war: Bulls attempt to turn the tide against bearish pressure
Bitcoin has experienced several weeks of intense volatility. Amid rising geopolitical tensions, capital is gradually flowing back into this asset, helping the price recover some of the previous losses.
At the time of writing, Bitcoin has regained the $71,000 mark after weeks of trading below
TapChiBitcoin26m ago
Data: If BTC drops below $68,903, the total long liquidation strength of mainstream CEXs will reach $1.839 billion.
ChainCatcher News, according to Coinglass data, if BTC drops below $68,903, the total long liquidation strength on major CEXs will reach $1.839 billion. Conversely, if BTC breaks through $76,001, the total short liquidation strength on major CEXs will reach $1.716 billion.
GateNews28m ago
