Cryptocurrency officials like FRB Chairman Powell’s statement

The world’s governments and central banks have issued nearly $8 trillion in banknotes globally as an extraordinary measure to curb the damage to the world economy frozen due to the effects of the coronavirus pandemic.

US Federal Reserve Chairman Powell pledged in a prime time TV interview on Friday that the FRB would take unlimited policies to curb the recession. He said he was flooding the market with money and, if necessary, issuing digital money. Cryptocurrency officials welcome FRB Chair Powell’s comments as proof that Bitcoin’s value is a deflationary and fully decentralized currency. At the same time, investors who don’t support bitcoin warn that FRB is willing to issue money until the currency is out of value.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s