Lately, the U.S. Federal Reserve has taken steps to mitigate the economic and financial repercussions of the coronavirus situation. has done everything in its power To keep the financial sector stable, the central bank has poured $1 trillion daily into the repo market, began mass purchases of corporate bonds, and sharply lowered interest rates to zero. In fact, it's not just the Federal Reserve; central banks worldwide have implemented related strategies to stabilize the global economy.
According to Robert Kiyosaki, an influential figure in personal finance due to his best-selling 'Rich Dad Poor Dad', these actions make Bitcoin and gold more appealing than ever.
The Central Bank's Moves Affirm the Strength of Gold & Crypto, Claims Personal Finance Expert
With the Federal Reserve's policy of generating \"trillions of dollars that have no backing\" and interest rates at rock bottom, it seems wiser to hold onto \"gold, which he calls 'God’s money', or Bitcoin, seen as 'people’s money',\" as opposed to devalued fiat currencies.
Kiyosaki explained Lesson 5. SHOULD YOU ACTUALLY SAVE MONEY? Why bother when the Federal Reserve's QE is producing trillions of worthless dollars—$82 billion monthly to $125 billion daily? Why hold savings with zero rewards? Instead, hoard gold—'God’s money', or Bitcoin—'people’s money'.
Dan Morehead from Pantera Capital provides an explanation:
— Robert Kiyosaki (@theRealKiyosaki) April 1, 2020
With these circumstances, Morehead anticipates the leading cryptocurrency could hit a record price within the next year, citing fast-paced expansion.
Taking Kiyosaki's viewpoint and the trend towards alternative assets, it's clear the enthusiasm for Bitcoin is on the rise, truly. that some bulls expect “is not going to happen overnight.”
Bitcoin Interest Is Booming
Even my nearly 90-year-old grandfather reached out last weekend, curious about how he might get into Bitcoin and Ethereum, eager for a step-by-step on acquiring and storing it. I promise this is no exaggeration—it truly happened.
, the major crypto platform Coinbase noted a surge in crypto purchases amidst the notorious Black Thursday market downturn, where Bitcoin's value plummeted by half in a day:
As reported by Blockonomi previously \"Aside from a surge, it’s evident: clientele on our retail platform favored buying over selling during the dip, with Bitcoin being the top choice. Our clients usually buy 60% more than they sell, but during this downturn, buying spiked to 67%, indicating robust demand for crypto even in volatile times.\"
In a recent tweet, it was highlighted that the platform saw a notable 83% uptick in new user registrations and a 300% rise in account verifications over recent weeks.
The U.S.-based Kraken corroborated this narrative, Additionally, per Unfolded—an industry news outlet—the
Tether's USDT stablecoin crossed the $6 billion mark, with $1 billion added just in the last fortnight. Other stablecoins like Paxos Dollar, USD Coin, Binance USD are also seeing massive minting.market capitalizationWith everything considered, despite some recent price declines and a rapidly deteriorating economy, the fascination with Bitcoin and other digital currencies is undeniably thriving.
I’ve been covering the crypto landscape since 2013. My thoughts and interviews have reached leading crypto publications such as LongHash, NewsBTC, and Decrypt. Outside writing, I’m part of HTC's EXODUS division, an electronics titan from Taiwan. I own a modest amount of Bitcoin. Reach me at NickC@level-up-casino-app.com
