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Bitcoin continues to climb, the Fed continues repo purchases and more! Two coastal villages in El Salvador are living out the dream that many Bitcoiners envision: a circular bitcoin economy for those who have been ignored by the traditional banking system. On this episode of Weekly Bits, Peter is joined by staff writer Colin Harper to discuss his latest cover story on Bitcoin Beach, the program that is putting sats in the hands of those who need them with noteworthy success. | | On the Coast of El Salvador, Bitcoin Is Becoming the Standard by Colin "@AsILayHodling" Harper | | When Michael Peterson made a semi-permanent move to El Salvador, the California native's motive was simple and, well, fittingly expected: He wanted a place to surf in the wintertime. Now, in a less-than-expected twist, Peterson is working on bootstrapping bitcoin economies in two villages on the eastern coast of the country: Punta Mango and El Zonte. | | | The price of bitcoin appears to finally be making its way toward new all-time highs as it breaks out of a bearish downtrend that's been ongoing since June 2019. | | | The Bitcoin hash rate has hit fresh all-time highs! | | Tweet of the Week Spencer Bogart, a Bitcoin OG, tweets about the newfound interest in bitcoin among traditional sector clients. Things are looking bullish, eh? | | Non-Bitcoin Read Of The Week This week's read, "Hedge Funds Could Make One Potential Fed Repo-Market Fix Hard to Stomach" from The Wall Street Journal, addresses the growing problem brewing in the United States economy. Federal Reserve officials are considering lending cash directly to smaller banks, securities dealers and hedge funds through clearinghouses to ease stress in the repo market. But that could be a tough sell for policy makers, according to the article. | | | |
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