FED has unlimited money, Bitcoin has unlimited ceiling

in GEMS3 months ago

FED says they have infinite amount of money, and bitcoin goes up 10x

Not that there was really any correlation, at least not directly anyways, but looking back it is interesting to see that bitcoin went up roughly 10x after the FED made comments about having infinite supply of money.

The chart looks silly actually:

image.png

(Source: https://twitter.com/DocumentBitcoin/status/1350067848522162176/photo/1)

While this claim wasn't the driver of the move, it certainly is a nice reminder why bitcoin matters and is needed in the first place.

Money must be backed by something.

It used to be gold, soon it's going to be bitcoin.

Countries will hold bitcoin as reserves and the amount of money they print can be backed by the bitcoin they hold.

Want to print more money and have it not lose value, hold more bitcoin.

The countries that don't have their money backed by bitcoin will see the value erode away to nothing.

Think places like Venezuela and Argentina.

The use case for bitcoin, the way I see it, is as a settlement layer to give countries an equal footing in world markets.

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Subtle yet important truth.

All the sudden congress doesn't want to spend anymore, perhaps bitcoin got their attention.

It's not going to be a straight line up.

Yeah! BTC would be the global leading reserve currency!

Works for me!