The world’s largest economy’s recent quantitative easing will most likely lead to a surge in Bitcoin prices, according to Gemini crypto exchange co-founder and CEO, Tyler Winklevoss.
“The Fed continues to set the stage for bitcoin’s next bull run,” Winklevoss said in a July 22 tweet, which included an article link on the government agency’s discussions of further stimulus spending. According to Winklevoss, there’s never been a better time to buy bitcoins than now that the government is involved in stimulus packages that is intended to pump money into the system.
The Fed continues to set the stage for bitcoin's next bull run. https://t.co/L5RKVHwCje
— Tyler Winklevoss (@tylerwinklevoss) July 22, 2020
Quick fact: In recent times, some emerged markets have beefed up their monetary activities, attempting to prop up a fragile economy disrupted by the raging COVID-19 pandemic.
Such efforts had included the recent EUR750 billion passed by the EU and trillions of dollars pending at the U.S congress, which, in part, is to stimulate global spending, thereby leading to inflationary concerns, as more money flows into an already over-bloated global momentary system.
BTC holds a maximum supply of about 21 million digital coins of which there are about 18.5 million in circulation, while over 4million BTCs have already been lost forever. These show that its definite supply protects the asset against value dilution.
READ MORE: Why BTC is the next big thing?
“When money printer go brrrr and inflate the stonks market, it’s time to Bitcoin,” Winkelvoss said in a July 18 tweet, referring to U.S. money printing resulting in a rising stock market, while giving the nod to Bitcoin as an alternative.
When money printer go brrrr and inflate the stonks market, it’s time to bitcoin.
— Tyler Winklevoss (@tylerwinklevoss) July 18, 2020