In an interview with CNBC, the former head of the US Federal Reserve, the Governor Kevin Warsh confirms the growth of Bitcoin and predicts the continuation of his rally. Kevin Warsh believes that the Fed monetary policy, aimed at mitigating the effects of the crown crisis, will continue to give the impulse cryptocurrency.
The former managing Fed said that the preservation of bitcoins in the investment portfolio "makes sense" in the current economic environment. The institution has made radical changes to their monetary policy, in favor of assets that are not controlled by the Federal Reserve System.
According to Kevin Warsh, the institution will continue his "aggressive" approach to fiscal policy, printing money and approve of stimuli packages supported by Democrats and Republicans. According to Kevin Warsh, the election of Joe Bayden by the next president will be the catalyst for the growth of Bitcoins price:
It is noteworthy that in 2018, Warsh, together with the billionaire Stan Drakenmiller and George Soros invested in the Basis Basis. The project was suspended in less than a year. In the same year, the former Manager Fed stated that Bitcoin could replace gold as a reserve currency.
Bitcoin is gold for the younger generation
Bitcoin survived the phase of mass introduction, supported by institutional investors in recent months. The strategy of companies such as Square and Microstrategy is to use BTC as hedging against dollar inflation. In this sense, cryptocurrency took most of the market share due to assets traditionally used as a means of savings, as Varcha added:
In a later interview with CNBC, Bitcoin Bull and the Galaxy Digital Director-General Mike Novograpz agreed with Warsh statements. Although the Novograpov acknowledged that the correlation between the Bitchin and the traditional market still exists, the adoption of new generations would be a key factor, as they seek to "leave the central banks".
Source: https://twitter.com/woonomic/status/1344708917285117953/photo/1.