On Wednesday, the UK Chancellor, Rishi Sunak, will reveal the government’s tax and spending plans in the 2021 Budget. Glint predicts he will focus on support for businesses and individuals in the aftermath of COVID 19.
There are real fears that these added costs may be passed onto consumers before long. But central banks all seem incredibly reluctant to raise interest rates. This decision is hitting both consumers and savers hard.
Glint adds that this landmark demonstrates the huge consumer appetite for alternative currencies such as gold and cryptocurrencies, including Bitcoin. The value of total transactions processed by Glint has jumped 16% in three months, from $215.5m at the end of March to over $250m.
For instance in August, Gold shot up above 2000 USD per ounce (an all-time high), but then it dropped on the news of the Cure for Covid. Either way Gold is up from the 1200 USD per ounce it was worth in 2018 and it continues to be the safe haven currency of choice for many people.
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