Bitcoin can still be a hedge against failing fiat. This is especially true in the face of the latest fiat injection plans put forward by the Fed.
FED to Inject Double Crypto Market Cap by Year-End
The US central bank is ramping up is repo operation efforts with billions more planned to enter the financial system before the end of the year. Reports reveal that an additional $425 billion will be pumped back into the economy by the FED.
This is over double the current total cryptocurrency market capitalization which has remained under $200 billion this weekend.
Larger capital injections through the end of the year have been planned to avoid another lending rate spike. According to the central bank, the increased limit is to ‘ensure that the supply of reserves remains ample and to mitigate the risk of money market pressures around year-end’.
The consequences of prolonged quantitative easing could be very dire indeed. Banks are actively encouraging more lending in an economy that already has a galloping national debt of over $23…