Bitcoin News

The U.S. Federal Reserve’s game plan going forward includes short-term interest levels between 0% and 0.25%, as decided by Fed brass in a Sept. 15 and 16 gathering. 

The independent body plans to maintain low interest rates in order to increase inflation, based on a Sept. 16 report from CNBC. Such news shines a light on Bitcoin as a store of value. The blockchain-based currency is largely immune to such actions, as it is protected against inflation by its permanent cap of 21 million coins. 

A majority of the Fed’s committee members expect interest rates to remain close to 0% for the next  three years, CNBC said. The governing body said that they aim for inflation higher than 2%. 

These actions could result in the dollar losing value amid the central bank’s attempts to right the country’s sinking economic ship — tossed by the waves of the ongoing pandemic.

Over the last few years, Bitcoin has solidified its position as a store of value, theoretically removed from traditional market prices and government control. Mainstream giants, such as MicroStrategies and Paul Tudor Jones, have recently added to the coin’s credibility by joining the ecosystem, although the technology has yet to see full mainstream approval

Products You May Like

Articles You May Like

New Peer to Peer Exchange Provides Africans with an Alternative to Paxful
Emin Gün Sirer’s $42 million blockchain for DeFi scaling has launched
US Banks Can Now Hold Reserves for Stablecoin Issuers, Says Federal Banking Regulator
Bitcoin Recovery Runs Into Crucial Resistance, But 100 SMA Holds The Key
Bloomberg suggests that Bitcoin should be $15,000 according to this adoption metric
Oxnest Investments live presentation! | 150% PROFIT IN 24 HOURS | BTC, ETH, LTC, XRP, BCH

Leave a Reply

Your email address will not be published. Required fields are marked *