Bitcoin lovers and supporters are euphoric after the US central bank, the US central bank, printed more dollars this month than the total market value of Bitcoin.
The Fed's balance sheet is close to $ 4 trillion
As he notes cryptocurrency social media expert Dennis Parker On October 21, the Cointelegraph reported, the Fed has invested $ 210 billion in the economy since mid-September.
As part of a new revitalized Quantitative Facilitation (QE) strategy, the measure exceeds Bitcoin's total market value of $ 148 billion, according to Coinmarketcap data.
QE refers to the purchase of government bonds to provide economic incentives. Parker notes that the Fed's balance jumped from $ 3.77 trillion last month to $ 3.97 trillion. Previously, it was higher, while the Fed's own projections should have a balance of $ 4.7 trillion by 2025.
For property owners who cannot make an inflated offer, such as gold and bitcoin, printing money is regularly warned to diminish in reliance on confidential currencies.
Parker's suggestion that investors buy Bitcoin has come amid warnings from the banking system's confidence itself.
Speaking at the International Monetary Fund (IMF) General Assembly last week, former Bank of England Governor Mervyn King told attendees that the world was "on the move" in an even worse financial crisis since 2008.
"Adhering to the new orthodoxy of monetary policy and pretending that the banking system will be secure, we are moving towards this crisis," he said.
The concept that the interventionist economic practices of governments and central banks lead to financial destruction is one of the main principles of Saifedean Ammous in his book Bitcoin Standard.
Launched in March 2018, the book focuses on bitcoin, compared to fiat money and commodities like gold.
Also read: Former Fed official says it makes no sense to swap dollar with cryptocurrency