Crypto Biz newsletter: Hyperinflation leads more people to Bitcoin
Mauricio di Bartolomeo, co-founder of Ledn, utilized a strategy of shorting the Venezuelan Bolivar for US dollars during hyperinflation and now borrows against Bitcoin to hedge against the US dollar. Ledn allows Bitcoin investors to access dollar liquidity without selling their BTC, with its loan book valued at $9.9 billion by Q4, according to Galaxy Research. Banco Industrial, Guatemala's largest bank, has integrated SukuPay's crypto infrastructure into its mobile app, enabling users to receive US dollars for a flat fee of $0.99, significantly lower than typical fees. NYU professor Austin Campbell claims banks are panicking over yield-bearing stablecoins that threaten their business model. Strategy, led by Michael Saylor, acquired 7,390 BTC for approximately $765 million, raising its total holdings to 576,230 BTC with an unrealized gain of around $20 billion as Bitcoin surpassed $100,000.
