Bitcoin (BTC) is becoming investors‘ favorite escape route from fiat poverty and punitive economic policy – and central banks would be helping.
In an August 11 tweet, popular commentator Holger Zschaepitz described Bitcoin as the „new favorite“ for those seeking refuge from obstacles such as negative interest rates.
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Bitcoin is preparing to become the best option
In recent months, the U.S. Federal Reserve, in particular, has intervened in traditional markets, buying up huge swaths of control at a cost of billions of dollars added to its balance sheet.
As the printing of money increased, so did the value of Bitcoin, said Zschaepitz.
„Bitcoin is the new favorite among investors in times of negative real rates, while the price of cryptomoney follows the combined balance sheet of the Central Banks.
Zschaepitz was in favour of the dissemination of Bitcoin in the German media Die Welt, which highlighted Bitcoin’s belief in the gold and silver of Robert Kiyosaki, author of „Rich Father, Poor Father“.
Kiyosaki is famous for his support of Bitcoin, which continued elsewhere last week when the main kryptonite currency exceeded $12,000.
„Gold is up 35% in 2020. S&P only 3%. Silver is still the best, still 30% below its historic high. Better because it is limited in quantity, used in the industry and still affordable for those on tight budgets,“ he wrote.
„The sleeper is Bitcoin. I suspect he is about to become the fastest horse.
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Central banks‘ balance sheet versus BTC/USD
The balance sheet of central banks versus BTC/USD. Furious: Holger Zschaepitz/ Twitter
Last week, Raoul Pal, CEO and founder of Real Vision, noted that Bitcoin was the only asset that outperformed the central banks‘ balance sheet increases.
The Federal Reserve holds 3% of „junk“ bonds
The relationship with the growing debt of the central bank shows that Bitcoin fulfills its original premise: to protect users from the risk generated by the parties that control the currency.
As Cointelegraph often reports, the publication of the Bitcoin whitepaper coincided with a now famous article in the UK newspaper, The Times, which contained a cover story „Chancellor on Brink of Second Bailout for Banks.
The chairman of the Federal Reserve Bank of Minneapolis called for a tighter national closure
Meanwhile, data from the US Federal Reserve underscores the scope of this year’s interventions: a staggering 3% of its corporate bonds are now rated „BB“, commonly known as „junk“ status.
The numbers are part of the package in response to the Cryptosoft Coronavirus, which has been repeatedly and strongly criticized by pro-Bitcoin parties. Among them is RT anchor Max Keiser, who has accused the US of returning the country to a state reminiscent of the Middle Ages, something he calls „neo-feudalism“.