US President Donald Trump indirectly and ridiculously backed Bitcoin on March 27 after he backed the US dollar manipulation.
At a press conference attended by a number of Twitter commentators, such as Samson Mow, chief strategist at Blockstream, it was stated that Donald Trump defended the printing of more than $6 trillion by the Federal Reserve, according to the CoinTelegraph. has done.
Trump said at the conference:
The interesting thing about our country is that we can easily control the printing of $ 6.2 trillion for what we are. This is our money and we own it, this is our currency.
Although Trump offered no further explanation of what was going on, he appears to support the Federal Reserve’s provision of astronomical liquidity. As a result, the dollar’s reserve will expand widely.
These are money-saving interventions that shape the foundations of bitcoin as an economic solution. The Coronavirus epidemic dared Bitcoin fans to watch the Federal Reserve’s confession of having “unlimited” money.
How much did we pay Trump for advertising Bitcoin?
Reactions continue to print a significant $ 6.2 trillion. Many digital currency users have expressed their surprise at this. A Hodlonaut user who started Twitter’s “Lightning Torch” movement claims that taxation would have no reasonable justification for unlimited money.
Caitling Long, the former chief executive of Goldman Sachs, which later pioneered the definition of digital currency in Wyoming, views monetary intervention as equivalent to capitalist slaughter.
He also warned that the Federal Reserve’s balance sheet would jump to more than $ 10 trillion before the CoronaVirus subsided and more than double.
Part of this tweet released on Friday said:
In the near future, heavy dollar demand will be created for short-term coverage, but will not last.
By comparison, $ 6 trillion equals total US GDP per the year 1990. That would be enough to buy even 70% of the gold sold worldwide.