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24 October 2020

Bitcoin price steady as $10B asset manager scoops up 10,000 BTC

Bitcoin price steady as $10B asset manager scoops up 10,000 BTC


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Asset management giant Stone Ridge confirmed that it made the significant purchase via its spin-off New York Digital Investment Group or NYDIG, which now has over $1 billion in assets under management.

The news comes as a new report warns that the United States Federal Reserve will need to print $5 trillion next year.

Commenting on the findings, David Rosenberg, chief economist at Rosenberg Research & Associates, concluded that the Fed alone would thus need to print $5 trillion of liquidity in 2021.

This would compound the feeling of unease which began with this year’s mass money printing, which has sent U.S.

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cointelegraph.com
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