Donald Trump is advertising for Bitcoin after backing the Fed to print $ 6 trillion







Bitcoin received support from US President Donald Trump on March 27 after he said he supported dollar manipulation.



President Donald Trump and Fed Chairman Powell


In a press conference cited by various Twitter commentators, including Blockchain CSO, Samson Mow, Trump defended the Federal Reserve printing more than $ 6 trillion.



How much did we pay Trump to advertise Bitcoin? Mow summarized.


Trump: The dollar is our money


The beauty of our country is 6.2 trillion dollars - it's 2.2 plus 4 - it's 6.2 trillion dollars, and we can handle it easily because we know we are who, who, he said.


That is our money, it is our currency.


While Trump did not give any further explanation of his statement, he appeared to testify that the Fed provided liquidity to the US market. In turn, the supply of dollars will be expanded.


It is this form of intervention in the supply of money that constitutes a central principle of Bitcoin as a financial solution. The Covid-19 translation motivated supporters when the Fed acknowledged that they had infinite money, liked to print as much as they could, and those who hugged the dollar bear the consequences of inflation.



Bitcoin vs. US 10-year bond yield | Source: Skew.com


6 trillion dollars from nothing


A lot of responses to $ 6.2 trillion continue to appear, as many different cryptocurrency users showed their surprise. Hodlonaut, who organized the transition of the Lightning Torch transaction last year, argued that in an unlimited money situation, paying taxes doesn't make sense.


Caitlin Long, the former director of Goldman Sachs, who then pioneered the friendly Bitcoin regulatory methods in Utah, described monetary intervention as killing capitalism.


She also warned that the Fed's balance sheet will more than double before the Covid-19 crisis.



In terms of scale, $ 6 trillion was equivalent to all US gross domestic product in 1990, or enough to buy nearly 70% of the world's gold supply at spot prices.


Thạch Sanh


According to Cointelegraph




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