MEDI1TV Afrique : Zoom sur les monnaies numériques avec Khalid Ziani - 24/09/2024
Category
🗞
NewsTranscription
00:00Ladies and gentlemen, good morning and welcome to Focus Economique.
00:14Donald Trump has launched his cryptocurrency platform, World Liberty Financial,
00:19a strategic choice for the Republican candidate,
00:22at a neck-and-neck in the polls with Kamala Harris.
00:25During the same week, the FED announced a drop in the CEO rate by half a point
00:30and plans to lower the rate by half a point again, so additional by December.
00:35How does this drop in rates impact cryptocurrencies in general?
00:40What implications will it have on the financial market?
00:44Today's answer with Mr Khalid Zianni.
00:47You are an IT and telecom expert.
00:50Hello, thank you for accepting our invitation.
00:52Hello and thank you for this invitation.
00:55Cryptocurrencies are increasingly used around the world,
00:59a little bit everywhere, in all countries of the world.
01:02In America today, 40% of American adults own them.
01:07When we talk about cryptocurrencies, what exactly are they?
01:11Cryptocurrencies are monetary assets.
01:15In fact, they are titles.
01:17Just as we own money, paper and cash,
01:22we actually own titles that represent this currency.
01:27But the difference is that they are assets that are referenced,
01:32that are stored in a digital way in blockchains,
01:37that guarantee their security, their integrity and their non-modification.
01:43So they are like property titles that we have on a digital currency.
01:49And the advantage of being digital is that it is perennial in time
01:53and that is what attracts this new blockchain technology on the currency.
01:59Digital assets, a perennial currency in time, but also volatile.
02:06Why is this market so volatile today?
02:10It is the course of these blockchains, of these currencies, of these cryptocurrencies that is volatile.
02:17Why? Because, like titles, they represent a value.
02:23And this value of these titles varies depending on the evolution of the economy.
02:30What does this value represent? It is the purchasing power of these titles.
02:37And each cryptocurrency has its own purchasing power,
02:41which is represented by all the injections of the investors in these cryptocurrencies
02:47and in which currency they have invested.
02:50And so the ability to buy with these bitcoins, from these cryptocurrencies, determines its value.
02:57This value, for some, is starting to be listed in the stock market,
03:03like in the United States.
03:05The Americans, the USA, have adapted their regulations at the beginning of the year
03:10to allow the listing of certain bitcoins, certain cryptocurrencies.
03:18And so it becomes like assets, like company shares, and they are listed in the NASDAQ.
03:25So, fluctuating shares that will certainly remain.
03:30Then we can discuss how this value varies, with what it is correlated.
03:35And that's what's most interesting about the cryptocurrency part.
03:40Is there a way to stabilize these values?
03:42So, in fact, there are what are called stablecoins,
03:46which are funds that guarantee a profitability of these titles,
03:544-5%, in order to attract investors to the funds that have subscribed,
04:03or that have joined these stablecoins.
04:06So these are safer values?
04:08They are safer.
04:09Are they a threat to other cryptocurrencies?
04:12No, it's not a threat.
04:15It depends on the ability to take risks of those who invest.
04:20You will have people who want to invest in very risky bitcoins,
04:29but they have to take risks.
04:32And the risks are this volatility, which means that a bitcoin can go from...
04:37For the bitcoin, it went from $20,000 to $60,000 in a few days.
04:45And so to face this volatility, we now have stablecoins
04:50that guarantee a return of around 5%, or 10%, or 15%
04:58to all those who invest in these stablecoins.
05:03So a safer choice for investors.
05:06A little safer.
05:07A little safer.
05:09Precisely.
05:10So this fall in rates, this announcement at the FED level,
05:14a half-point, how does it impact cryptocurrencies?
05:18So the correlation between the rate drops, the currency prices,
05:24and the bitcoin rating is triple.
05:28In fact, it is the currency prices that are correlated with the rate market.
05:36So the drop in the rate of the FED makes the dollar go up or down.
05:43So it is rather up, since it is inversely proportional.
05:48And between bitcoins and the currency rates with which they are subscribed,
05:55you have an inversely proportional relationship.
05:57So when the dollar rate goes up, the bitcoin rate goes down.
06:01When the dollar rate goes down, the bitcoin rate goes up.
06:04So there, the prices should go up.
06:07Logically, bitcoin should go up.
06:10And when bitcoin, because of the drop in the rate of the FED,
06:18why? Because there is a relationship between investors.
06:23When the interest rates of the FED were high,
06:26the remuneration of funds invested in treasury bonds, in bonds,
06:31was more interesting.
06:33When the FED drops by half a point,
06:36these funds bring back part of their treasury bonds or bonds
06:43to more risky funds, which are bitcoins.
06:47As a result, the bitcoin rate,
06:49that is, we ask for more bitcoin than there is bitcoin supply,
06:53and at that point the rate goes up.
06:55Precisely, precisely, following this drop in rates,
06:58bitcoin rose by 59,212 dollars.
07:04But investors still remain cautious.
07:07Yes.
07:08They are a little divided in relation to this,
07:11and we are still in the blur.
07:13When will we be able to see it a little clearer?
07:17So in fact, the second factor of correlation
07:20is the appreciation of this drop.
07:25Is it sustainable?
07:27Will it last in time or not?
07:30The FED gives indications that it will drop even more.
07:36As a result, the rate absorbs this anticipation of a future drop
07:42in the interest rate of the FED.
07:45So that's why it goes up more.
07:47So it's time to invest for the moment?
07:50At the moment, yes.
07:51Because the prospects of a drop are stronger than the prospects of a rise.
07:58And so we are pretty sure that in the next six months,
08:01and the FED has already announced this,
08:03there will be other drops in the next six months.
08:05And at that point, the bitcoin rate absorbs this drop.
08:10Why?
08:11Because the funds that were invested in the treasury bonds,
08:15in the bonds that were guaranteed with interest rates remunerated by the FED,
08:22or the banks that relied on the FED,
08:24are being reported on the bitcoins that are much better remunerated.
08:29So it favors the market a little bit.
08:31And so this movement makes the funds better remunerated.
08:35And secondly, it releases...
08:38In fact, it's a signal.
08:40The FED gives a signal to the economy and to the banks that they can reinvest.
08:46That is, with inflation being mastered and juggled,
08:50the central bank gives a signal to the economy that it can reinvest
08:55and to the banks that they can allocate or distribute loans.
08:59And it's a strong signal.
09:01It means that the economy will restart.
09:03And so all those who had put their funds in the bitcoins,
09:07they are sitting on titles.
09:09In fact, it's the real value of the currency that is appreciated with the economy.
09:14The economy that will be appreciated
09:17will give the same purchasing power value as its bitcoins.
09:21So it's good news in any case.
09:23It's very good news,
09:24because the anticipations on the monetary markets are extremely important.
09:29The problem is, where people are careful,
09:33it's the geopolitical risks,
09:35the war in Ukraine, the war in the Middle East,
09:38the American elections.
09:41We are in uncertainty.
09:42These are uncertainties that make investors a little more careful.
09:47But otherwise, as the FED has really dropped from 0.50,
09:52which is a big drop,
09:54and it also announces that it will probably drop in December,
09:59it means that they are reassured about the evolution of the economy
10:04or the restart of this economy.
10:06They are more or less sure that the economy will resume.
10:10So for those who are watching us,
10:12it's time to invest in cryptocurrencies.
10:15Where are we compared to these cryptocurrencies in Morocco?
10:19In Morocco, the Central Bank has launched a review and a study committee.
10:26We are at the stage where the study,
10:29there is even a report that came out.
10:32So we are at the stage of the preparation of the digital currency of the Central Bank,
10:39the MNBC.
10:40In fact, all the states in the world are thinking about the implementation of this MNBC.
10:47Some have already launched it.
10:49China, in Africa you have Nigeria with the INERA,
10:53and the European Central Bank announces it for 2025.
10:56So the evolution towards these MNBC,
11:01digital currency of the Central Bank,
11:03will go crescendo and will generalize.
11:05And the Central Bank must invest in it
11:07because it is out of the question that Morocco excludes itself from the international monetary system.
11:13A natural evolution.
11:14What would be the advantages for Morocco to have our own digital currency?
11:20In fact, for Morocco it is extremely important
11:23because the MNBC is a digital currency that is convertible by nature.
11:30That is, we would finally have the convertible diram with a real value worldwide.
11:37And it is a value with all the currencies.
11:41And as we are lucky to have a very extensive diaspora abroad,
11:48we have foreign resources with tourism.
11:52We have every interest in subscribing to these MNBC.
11:57And the Moroccans who are currently constrained by the exchange office,
12:02the exchange regulation, when they want to buy, for example.
12:06These constraints will have to, will no longer have to,
12:13or will not be able to exist on a MNBC that is convertible by nature.
12:18Thank you. In any case, the issues are important.
12:21Very important.
12:22And it allows us to go towards a currency parity.
12:26A convertibility of the diram currency.
12:29And the diram, given the prospects of the Moroccan economy in the world,
12:33will tend to rise and therefore give the Moroccans purchasing power.
12:41Absolutely. In any case, thank you, Mr. Khalid Ziani.
12:45I remind you that you are an IT and telecom expert.
12:48It was a pleasure to have you with us.
12:50Thank you for all these details.
12:53This is the end of Focus Economique for today.
12:55Thank you for your loyalty. Stay with us.
12:57See you tomorrow with a new guest.
12:59Have a very good day.
13:11Focus Economique