Author: Marketforces Africa

Bitcoin to Hit $100K, if Replaces Gold as SOV, Says Goldman Sachs Bitcoin adoption will continue to take market share from gold and price could reach $100,000, according to analysts at the leading global investment bank, Goldman Sachs. The analyst noted that if Bitcoin continues to eat into the market share of gold as a “store of value” (SOV) asset, it could rise to the price tag within the next five years. Goldman estimates that Bitcoin’s float-adjusted market capitalization is just under $700 billion. That accounts for a 20% share of the “store of value” market which it said is…

UBS, a Swiss multinational investment bank said that most Eurozone sovereign financing

With a plan to borrow about N3.8 trillion to support the adjusted 2022 budget, global interest rate

The United States (U.S.) dollar gave back some of its recent gains against its major trading partners

With price per barrel at $50 in January 2021, crude hits as high as $86 down the year

After gaining about N887 billion on Tuesday, the Nigerian Exchange (NGX) is tracking down mid-day trading

Nearly all top 10 cryptocurrencies by market value, led by Bitcoin (BTC-USD),

El Salvador’s government is hoping to issue $1 billion in Bitcoin bonds after the country

The average yield on the Nigerian Treasury Bills instrument steadies in the secondary market

Oil Prices Rise as OPEC+ Ratifies Production Increase Oil prices rise on Tuesday as the Organisation of Petroleum Exporting Countries and allies (OPEC+) approve a monthly quota increase of 400,000-barrels per day, starting from next month as supply from Libya falters due to a closed pipeline and the shutdown of the country’s largest oil field. Earlier in the morning trading session, West Texas Intermediate crude for February delivery was last seen up US$0.85 to US$76.93 per barrel, while March Brent crude. The global benchmark was up US$0.85 to US$79.83 per barrel. OPEC+ meets today to approve a planned production hike,…