Last time the Fed Reserve printed extra USD, was back in 2008 during the US mortgage crisis with many believing that this was the reason for inventing Bitcoin in the first place.
As per the co-founder of Morgan Creek Digital, Anthony Pompliano, the Fed has printed over $275 bln in just four days after reducing the interest rate earlier this week.
He also called it QE ‘rocket fuel’ for Bitcoin price as many experts and investors expect that now, after the QE made by the ECB and now by the Fed Reserve too, along with the upcoming BTC halving next year, the Bitcoin price will surge.
ROCKET FUEL: They’re going to cut rates and print money right as we march towards the Bitcoin halving.— Pomp 🌪 (@APompliano) July 25, 2019
Buckle up. This will be wild 🚀 pic.twitter.com/QotDXKTJRj
Adam Back praises USDT minting
While responding to a tweet of a crypto investor in which he showed surprise at people calling Tether minting a market manipulation and Fed printing ‘an open market operation’, the founder and CEO of Blockstream, Adam Back, stated that Fed’s USD is backed by nothing while Tether is backed by actual dollars.
He also stated that Tether minting extra USDT shows a high degree of investors’ demand to buy Bitcoin and is basically a good sign.
the FED is creating USD with no backing via Quantitative Easing.— Adam Back (@adam3us) September 20, 2019
Tether "market manipulation" is twitter fan-fiction. @tether_to coins are backed by fiat bank balances, $10m tether increase is just the sound of Bitcoin buying demand at exchanges.
entirely different situations.
Bitcoin price will now surge, believes BitMEX CEO
The chief executive of the BitMEX derivatives crypto exchange Arthur Hayes has recently stated that due to the upcoming plans of the Fed Reserve to print some extra billions of USD, the the Bitcoin price may soon hit $20,000.
As a reminder, that is the all-time high BTC reached in December 2017, right before the crypto winter broke out.