{"id":386806,"date":"2019-06-20T11:51:29","date_gmt":"2019-06-20T11:51:29","guid":{"rendered":"https:\/\/uniquehot.com\/?p=386806"},"modified":"2024-06-11T13:44:24","modified_gmt":"2024-06-11T13:44:24","slug":"crypto-investor-claims-federal-reserve-outlet-is-brazenly-bullish-for-bitcoin","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/crypto-investor-claims-federal-reserve-outlet-is-brazenly-bullish-for-bitcoin\/","title":{"rendered":"Crypto Investor Claims Federal Reserve Decision is “Brazenly Bullish” For Bitcoin"},"content":{"rendered":"

On Wednesday, the Federal Reserve’s Jerome Powell<\/a> was asked about his latest thoughts on Bitcoin (BTC), crypto assets, and Libra. True to his nature as an integral piece of traditional finance, the chairman of one of the world’s most powerful institutions didn’t express fear.<\/p>\n

In fact, echoing a quip he made in 2018, he claimed that cryptocurrencies, even Libra, aren’t big enough to pose a threat to Wall Street yet. Powell even lauded this budding sector, expressing that there is innovation in blockchain and digital assets that should be looked at.<\/p>\n

Related Reading: Why Many Believe Fed Rate and Dow Jones Rebound Could Fuel Bitcoin in Long-Term<\/a><\/h6>\n

While Powell seems to not be concerned about Bitcoin and its ilk, one prominent investor claims that BTC is rapidly moving towards becoming an alternative and hedge to the U.S. dollar and other fiat monies.<\/p>\n

Crazy Monetary Experiments<\/strong><\/h2>\n

For months now, Travis Kling, a former portfolio manager at fund giant Point72, has been absolutely harrowed<\/a> about the fiscal strategies enlisted by the Federal Reserve and its counterparts across the globe. Kling, who now runs prominent crypto fund Ikigai, has brought his rhetoric to every outlet, from Anthony Pompliano’s “Off The Chain” to CNN.<\/p>\n

The Bitcoin bull believes that the current “Quantitative Easing” period is one of the most irresponsible and largest “monetary policy experiments in human history”, citing the fact that this policy has propped up financial markets across the globe.<\/p>\n

\"bitcoin<\/p>\n

As an outsider to their choices, many common Joes and Jills likely take only a few issues with these policies. In fact, most in the general public likely low little about the decisions of the entities that reside over one of the most aspects of their lives \u2014 their financial wellbeing.<\/p>\n

Related Reading: Issuance Of Crypto Assets Will Push Bitcoin Lower, Claims St. Louis FED<\/a><\/h6>\n

Sure, right now everything is fine. Stocks continue to head higher; venture capitalists continue to throw money at tech startups with skimpy monetization plans. But, everything might be about to get even more frothy.<\/p>\n

Bitcoin Sees “Brazenly Bullish” Event<\/strong><\/h2>\n

After the latest Federal Reserve press release on Wednesday, Bloomberg updated<\/a> its Fed Funds rate prediction for the next 13 months to a 100% chance of a rate cut, meaning more money printing and more quantitative easing.<\/p>\n

This comes after many, from established economists to Bitcoin maximalists, have cried for a period of quantitative tightening to normalize central banks’ balance sheets. Because some are worried that with this pro-money printing mindset, things will rapidly spiral out of control, leading to hyperinflation, a sovereign debt default,<\/a> and other horrible economic events.<\/p>\n

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Update here. That \u201cQuantitive Tightening\u201d thing? That \u201cbalance sheet\/interest rate normalization\u201d thing? Yeah we\u2019re done with all that. <\/p>\n

Brazenly bullish for a non-sovereign, hardcapped supply, global, immutable, decentralized digital store of value. pic.twitter.com\/BUG5QCKBXi<\/a><\/p>\n

— Travis Kling (@Travis_Kling) June 20, 2019<\/a><\/p><\/blockquote>\n