Neel Kashkari recently said that Congress had ordered the Federal Reserve Bank of Minneapolis of which he spearheaded to print unlimited amounts of cash. There are mixed views on this move but it appears Bitcoin could benefit from this move by government. He had this to say:
“That’s literally what Congress has told us to do. That’s the authority that they’ve given us, to print money and provide liquidity into the financial system. And that’s how we do it. We create it electronically. And then we can also print it with the Treasury Department, print it so that you can get money outta your ATM.”
Other big players in the cryptocurrency sector share their own views and some do believe that Bitcoin will do very well, it is said that 2020 will be a massive year for BTC. One of those who felt it was BTC’s year was the head of Galaxy Digital, a cryptocurrency and blockchain technology finacial company.
“$btc will continue to be volatile over the next few months but the macro backdrop is WHY it was created. This will be and needs to be BTC’s year.”
On the other hand the co-founder and CEO of founder of IOHK compares the move to the OneCoin scandal that has been considerd a ponzi scheme.
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