Bitcoin "hardened" while the U.S. FED announced they will be buying ETFs...
A day that will go down in history...
Today will go down in history and be remembered as a historic day for several reasons...
On the one hand we have bitcoin undergoing it's 3rd ever "hardening" event where every 4 years it's inflation rate is cut in half.
It originally went from 50 to 25, then 25 to 12.5, and now 12.5 to 6.25.
That is something we all likely heard about and are likely well aware of due to our involvement with crypto...
However, something else happened today that was rather historic as well...
The FED announced this evening that they will be buying ETFs starting tomorrow.
You can't make this stuff up...
In case you aren't familiar, this is the first time in the history of the United States that they have ever purchased an ETF.
Though, in their defense, ETFs haven't been around all that long.
This is how it goes when you start down the rabbit hole...
First, QE was started back in 2008, where they buy US treasuries and mortgage backed securities.
The initial sale to the public for this idea was that it would be a one time emergency measure that likely would never be used again.
Sure enough, it had to be done several times as we saw QE1, QE2, and QE3 as well as interest rates slashed to zero to get the economy moving forward again.
Well now, guess what, they have moved to directly intervening in the financial markets via ETFs.
This is what Japan did back in the late 90's and early 2000's while they were dealing with deflation and a stock market that couldn't stand on its own two feet.
After starting with buying bonds, they eventually moved to buying equities.
And now, we are literally seeing the exact same process play out here as well.
The loser in all of this will be anyone holding fiat, but of course that is something we (they) will worry about down the road as it fixes the short term problem.
Is the irony being lost on anyone that this is happening on the exact same day that bitcoin underwent it's 3rd hardening event?
It appears I'm not the only one noticing that...
Hard vs. soft.
Sound money vs. unsound money.
Which would you rather be hodling?
Stay informed my friends.