{"id":20926,"date":"2023-05-14T13:49:20","date_gmt":"2023-05-14T13:49:20","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/musk-on-massive-incentive-to-get-money-out-of-banks-dave-ramsey-dismisses-de-dollarization-fears-btc-network-congestion-eases-and-more-week-in-review-the-weekly-bitcoin-news\/"},"modified":"2023-05-14T13:49:20","modified_gmt":"2023-05-14T13:49:20","slug":"musk-on-massive-incentive-to-get-money-out-of-banks-dave-ramsey-dismisses-de-dollarization-fears-btc-network-congestion-eases-and-more-week-in-review-the-weekly-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/musk-on-massive-incentive-to-get-money-out-of-banks-dave-ramsey-dismisses-de-dollarization-fears-btc-network-congestion-eases-and-more-week-in-review-the-weekly-bitcoin-news\/","title":{"rendered":"Musk on ‘Massive Incentive’ to Get Money Out of Banks, Dave Ramsey Dismisses De-Dollarization Fears, BTC Network Congestion Eases, and More \u2014 Week in Review \u2013 The Weekly Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Twitter CEO Elon Musk has shared what he calls a \u201cmassive incentive\u201d to get money out of bank accounts, noting \u201cbank depositor flight will accelerate to extreme levels, even for banks that are \u2018too big to fail.\u2019\u201d Personal finance coach and author Dave Ramsey, for his part, thinks that de-dollarization fears are overblown. In crypto news, Bitcoin\u2019s network congestion issues began to ease this week. All this and more just below, in the latest Bitcoin.com News Week in Review.<\/strong><\/p>\n

\"Elon<\/p>\n

Elon Musk Shares \u2018Massive Incentive to Move Money out of Bank Accounts\u2019<\/h2>\n

Tesla and Twitter CEO Elon Musk has shared a \u201cmassive incentive\u201d to move money out of bank accounts, citing a significant interest rate gap created by the U.S. Treasury and the Federal Reserve. \u201cAs more people & companies realize this, bank depositor flight will accelerate to extreme levels, even for banks that are \u2018too big to fail,\u2019\u201d Musk warned.<\/p>\n

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

\"Dave<\/p>\n

Dave Ramsey Dismisses De-Dollarization Concerns \u2014 Says BRICS Currency, Chinese Yuan Can\u2019t Take Down US Dollar<\/h2>\n

Personal finance expert and best-selling author Dave Ramsey has dismissed de-dollarization concerns and the prospects of a BRICS currency, the Chinese yuan, or the Russian ruble displacing the U.S. dollar in international trade. \u201cThey don\u2019t have the muscle to take down the dollar,\u201d he stressed.<\/p>\n

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

\"Fed<\/p>\n

Fed Reveals 722 Banks Reported Unrealized Losses Over 50% of Capital as Concerns Over US Banking Crisis Grow<\/h2>\n

The U.S. Federal Reserve has revealed that 722 banks reported unrealized losses exceeding 50% of their capital at the end of the third quarter of 2022. \u201cRising interest rates are creating significant unrealized losses in investment securities and in some cases depressing tangible equity,\u201d according to the Fed\u2019s Division of Supervision and Regulation.<\/p>\n

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

\"Bitcoin<\/p>\n

Bitcoin Network Starts to Clear Congestion, Onchain Fees Drop by 90%<\/h2>\n

On May 7, 2023, the Bitcoin network was plagued with an overwhelming 500,000 unconfirmed transactions, causing a major bottleneck in the system. However, the good news is that the congestion has been clearing, resulting in a significant reduction in onchain fees.<\/strong><\/p>\n

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

What are your views on this week\u2019s stories? Be sure to let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nBitcoin.com <\/h6>\n

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

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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