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22 June 2021

How the Fed’s ETF-Buying Strategy Helps MicroStrategy - Decrypt

How the Fed’s ETF-Buying Strategy Helps MicroStrategy - Decrypt


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The amount of MicroStrategy bonds in the fund is not a lot, mind you—just 0.01% of the more than $10 billion in the ETF.

But it does mean that the Fed has helped MicroStrategy max out its crypto holdings and become a de facto Bitcoin ETF, even as Fed Chair Jerome Powell hascalledBitcoin "more of an asset for speculation" than a means of payment.

The Federal Reserve's balance sheet has grown from $4.2 trillion in March 2020 to nearly $8 trillion today, part of an expansionary monetary policy that has been criticized by Bitcoin advocates, including some in government, fordevaluing the dollar.

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