Bitcoin doesn’t care about Lagarde, but not Biden
Christine Lagarde, president of the ECB, called for a regulation and a set of laws for Bitcoin. His thinking is that powerful money laundering streams lurk behind the virtual currency, so the time has come to regulate it, despite the currency having started a series of "Fun" businesses, according to the president.
So with this news, many have gone so far as to predict a fall in Bitcoin: any form of regulation is the enemy of the virtual currency, which is also an instrument of freedom. Too bad this didn't happen …
Indeed, after a very significant decline, the virtual currency immediately recovered and returned to approaching $ 40,000. So Lagarde's words had minimal weight on Bitcoin.
In reality, if Lagarde's words are irrelevant, this is not the case for those of another leader, a political American, namely the new president Joe Biden. The American president has announced a powerful new aid plan for the US economy exhausted by Covid-19, including checks for $ 1,400 for citizens. How did this announcement help BTC's recovery? Because it is assumed that the Fed will monetize most, if not all, of the debt resulting from this operation. These are monetary resources that enter the financial market and which will inevitably inflate the values of the various assets including BTC, seen, for better or for worse, as a sort of safe haven.
In the end, there are shifts at the macro level that affect Bitcoin values and that weigh more than the confused ideas of the ECB president.
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The Bitcoin article cares about Lagarde, but not Biden comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/bitcoin-se-ne-frega-della-lagarde-ma-non-di-biden/ on Fri, 15 Jan 2021 07:00:32 +0000.