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19 January 2020

US Fed to Print $425B for New Year’s — 3 Times Bitcoin’s Market Cap

US Fed to Print $425B for New Year’s — 3 Times Bitcoin’s Market Cap


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The United States central bank will inject at least $425 billion of nonexistent money into the economy by the middle of next month.

“The Open Market Trading Desk (the Desk) at the Federal Reserve Bank of New York has released the schedule of repurchase agreement (repo) operations for the monthly period from December 13, 2019 through January 14, 2020,” the statement reads.

The argument forms a central tenet of Saifedean Ammous’ popular book, “The Bitcoin Standard,” in which he argues that the fall of nations and empires stems from the fall of a currency that is not allowed to operate free of manipulation.

Commenting on the most recent Fed announcement, Bitcoin advocate known as Rhythm on Twitter noted that $425 billion is over three times the size of Bitcoin’s market cap.

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cointelegraph.com
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