{"id":19406,"date":"2023-04-02T13:04:19","date_gmt":"2023-04-02T13:04:19","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/former-treasury-official-issues-dire-warning-bill-ackman-fears-economic-train-wreck-us-gov-remains-top-btc-holder-and-more-week-in-review-the-weekly-bitcoin-news\/"},"modified":"2023-04-02T13:04:19","modified_gmt":"2023-04-02T13:04:19","slug":"former-treasury-official-issues-dire-warning-bill-ackman-fears-economic-train-wreck-us-gov-remains-top-btc-holder-and-more-week-in-review-the-weekly-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/former-treasury-official-issues-dire-warning-bill-ackman-fears-economic-train-wreck-us-gov-remains-top-btc-holder-and-more-week-in-review-the-weekly-bitcoin-news\/","title":{"rendered":"Former Treasury Official Issues Dire Warning, Bill Ackman Fears Economic ‘Train Wreck,’ US Gov. Remains Top BTC Holder, and More \u2014 Week in Review \u2013 The Weekly Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Warnings continue to pervade market and financial news this week, with Monica Crowley, former assistant secretary for public affairs for the U.S. Department of the Treasury, indicating \u201ccatastrophic\u201d consequences if the U.S. dollar loses its status as the world\u2019s reserve currency. In related news, billionaire Bill Ackman warned that the U.S. economy is \u201cheading for a train wreck.\u201d Meanwhile, First Citizens Bank has acquired SVB, and the U.S. government remains a top bitcoin holder with its seized stash. All this and more, just below.<\/strong><\/p>\n

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Former Treasury Official Warns of Complete Economic Implosion if US Dollar Loses Global Reserve Currency Status<\/h2>\n

Former Assistant Secretary for Public Affairs for the U.S. Department of the Treasury Monica Crowley has warned of \u201ccatastrophic\u201d consequences if the U.S. dollar loses its status as the world\u2019s reserve currency. \u201cThat would mean the end of the U.S. dollar,\u201d she said, predicting that \u201cthere would be a complete implosion of the global economic system.\u201d<\/p>\n

Read More<\/strong><\/a><\/p>\n

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Billionaire Bill Ackman on US Banking Crisis: \u2018I Fear We Are Heading for a Train Wreck\u2019<\/h2>\n

Billionaire Bill Ackman has warned that the U.S. economy is \u201cheading for a train wreck\u201d if the government allows the current banking crisis to continue. \u201cTrust and confidence are earned over many years, but can be wiped out in a few days,\u201d he said. \u201cHopefully, our regulators will get this right.\u201d<\/p>\n

Read More<\/strong><\/a><\/p>\n

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US Government Remains a Top Bitcoin Holder With Seized Stash Valued at $5.6 Billion<\/h2>\n

As of March 25, 2023, the U.S. government held 205,515 bitcoins worth $5.6 billion, which is approximately 1.06% of the circulating supply, according to current statistics. The cache of bitcoins is a result of three forfeitures that began in 2020. Glassnode\u2019s on-chain data reveals that on March 9, about 9,860 bitcoins worth roughly $269 million were sent to a Coinbase address.<\/p>\n

Read More<\/strong><\/a><\/p>\n

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First Citizens Bank Acquires Silicon Valley Bank, Costing FDIC Deposit Insurance Fund an Estimated $20B<\/h2>\n

According to the Federal Deposit Insurance Corporation (FDIC), the troubled bank Silicon Valley Bank (SVB) was acquired by First Citizens Bank & Trust Company, which is based in Raleigh, North Carolina. First Citizens acquired all deposits and loans from SVB, as well as the 17 branches that SVB owned across the United States.<\/p>\n

Read More<\/strong><\/a><\/p>\n

Where do you think the global economy is heading? Are the warnings of collapse overblown, underplayed, inaccurate, or right on the money? Let us know in the comments section below. <\/strong><\/em><\/p>\n

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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