
Evgenyđ
@gagash
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396 Followers
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Tanzanian Shillingâs 8.9% YTD Drop Earns It Worldâs Worst-Performing Currency Status
The Tanzanian shilling has experienced a significant decline, becoming the worldâs worst-performing currency this year, dropping 8.9%. At the time of writing, the currencyâs exchange rate against the U.S. dollar stood at 2,645 per dollar, a level last seen in late November 2024. This decline is attributed to rising imports and increased public debt, largely due to major infrastructure projects like a new port, oil pipeline, and LNG facility. Despite a projected 6% GDP growth, the currency faces short-term pressures from a widening current-account deficit and liquidity constraints. While these infrastructure investments are expected to yield long-term economic benefits, they are currently contributing to increased imports and debt, putting further strain on the shilling.
https://news.bitcoin.com/tanzanian-shillings-8-9-ytd-drop-earns-it-worlds-worst-performing-currency-status/ 0 reply
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Metaplanet buys $12.5 million worth of BTC, issues bonds to purchase more bitcoin
The latest purchase boosted the firm's total holdings to 3,200 BTC, acquired for about $266.2 million, according to Metaplanet CEO Simon Gerovich. Based on current market prices, the firm's 3,200 BTC is worth about $265.9 million.
Also on Tuesday, Metaplanet raised 2 billion yen, or about $13.3 million, through bond issuance to buy more bitcoin.
Metaplanet has embarked on a bitcoin buying spree since adopting a bitcoin accumulation strategy in April 2024. It aims to hold 10,000 BTC by the end of 2025 and 21,000 BTC by the end of 2026.
https://www.theblock.co/post/346744/metaplanet-btc-bonds 0 reply
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