Uncertain markets are causing big bank customers to lose their cool ... |
| | | | This week’s top headlines:
Banks drained after big withdrawals
Bill Gates quits Microsoft
Investors dump oil and gold
Get the full story ⬇️
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| | Banks drained after $100K+ withdrawals
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| | Uncertain markets are causing big bank customers to lose their cool. Several branches of US banks—particularly in affluent areas like New York’s neighborhood—have been drained of their cash as customers withdrew money in bulk.
One couple reportedly withdrew $250,000 in one go, while others took out $100,000 or more. However, some were refused, with one would-be-withdrawer being declined the $30,000 they requested—instead of being told the withdrawal limit was $10,000.
In response to the mass cash-out, regulators have tried to calm the chaos with one banking official highlighting, “Your money is safer at an institution than if you put it in your pocket.”
And, while some people are busy emptying their bank accounts, others are panic-buying toilet roll (with sales up more than 60%). But this pales in comparison to hand sanitizer sales which skyrocketed by 470%. |
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| | | Bill Gates quits Microsoft
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| | Bill Gates is closing the door on Microsoft, with plans to leave the company’s board to free up more time for philanthropy. Stepping down with a comfortable net worth of over $110 billion, Gates said, “Microsoft will always be an important part of my life’s work.”
After co-founding the company in 1975, Gates helped grow it into a software giant—complete with its own (now unforgettable) startup and shutdown jingle.
Gates served as CEO until 2000. Since then, he gradually scaled back his involvement with the company and will soon leave the Microsoft board entirely.
He also plans to quit the board of Berkshire Hathaway Inc., the conglomerate company run by business magnate Warren Buffett—a lifelong friend of Gates. |
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| | Investors dump gold and oil
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| | Normally stable assets such as treasury bonds, stocks, and gold have experienced extreme volatility. Oil has been one of the worst-hit commodities, plunging to under $22 a barrel this week, with fears that there is worse to come as a global oil pricing war plays out. Meanwhile, there are signs that cryptocurrencies are diverging from traditional assets, following two weeks in which BTC’s moves closely shadowed the S&P 500.
Major investors, includingprominent figures outside the crypto space, are advocating bitcoin and USD as the best assets to have exposure to right now. Bitcoin has a greater upside than similar fiat-flight assets like gold.
BTC is up 20% this week, with the rest of the crypto market also rallying strongly.
As central banks ramp up the money printers, bitcoin’s certain and unalterable supply makes it attractive. Unprecedented QE, helicopter money, and business bailouts may trigger a flight to deflationary cryptocurrencies. |
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| | | $2000 BCH Trading Competition
The Bitcoin.com Exchange is hosting a trading competition with $2000 BCH in prizes until March 24th 13:00 UTC. Any trader can easily participate by trading BCH-pairs on the exchange. At the end of the competition, the top 5 traders with the highest trading volume across BCH-pairs will share the $2000 BCH prize pool in proportion to their traded volume.
Learn more |
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