Top Cryptocurrency News: Ripple Lawsuit, Bitcoin Prediction, and Bank of England's Stance

Ripple Lawsuit Deadline Insights

Ripple's Chief Technical Officer recently discussed the anticipated deadline for a ruling in the ongoing Ripple lawsuit. The conversation, initiated by an attorney, highlighted that Judge Torres is not expected to make a decision until at least the end of September. This timeline is consistent with her past rulings, such as the N.Y. District Carpenter's fund case, which took over eight months. Any extension beyond September 31 would be unprecedented, as Judge Torres has never taken more than nine months for such decisions.

Bitcoin Mega Prediction

The author of "Rich Dad Poor Dad," a well-known Bitcoin advocate, has made a bold prediction regarding Bitcoin's price. He cites the BRICS alliance's potential move to a gold standard and their possible introduction of a gold-backed cryptocurrency as catalysts for significant economic shifts. This could lead to a decline in the U.S. dollar's dominance and result in trillions of dollars returning to the U.S. economy. Consequently, he forecasts Bitcoin reaching $120,000 by next year and advises investing in gold and silver to hedge against impending inflation.

Bank of England's Critique of Cryptocurrencies

The Governor of the Bank of England has expressed strong criticism of Bitcoin and similar cryptocurrencies. In a recent speech, he labeled them as "extremely speculative assets" and reinforced his belief in the enduring relevance of traditional cash. Additionally, he criticized stablecoins for not being robust or meeting the standards of safe money. Despite their growing popularity for providing stability in the volatile cryptocurrency market, the Governor's comments reveal skepticism about their reliability as secure monetary instruments.