Cameron Winklevos says the United States’ failure to consent to the coronavirus shows that the dollar is “fun money” and favors Bitcoin (BTC).

In a tweet on Aug. 6, the Gemini Stock Exchange’s co-founder gave a damned assessment of the lack of progress in Washington to provide more financial aid.

Bitcoin wake up call
CNN reported Friday that the Democratic-Republican talks were “on the verge of collapse” and the desired economic sums varied by several trillion dollars for both sides.

Winklevoss is supported by the idea that politicians can plan the same goal with very different amounts of money, more about the value of the dollar than about the differences between them.

The US dollar has become such ridiculous money that politicians are now splitting “trillions of dollars” into business negotiations. Do you remember when a billion was a great number? ” he wrote.

“If this isn’t a wake-up call and confirmation from Bitcoin, I don’t know what it is.”

His comments came as the weakening of the US dollar was evident in the rush of investors to safe havens, with both Bitcoin and precious metals seeing big gains.

Meanwhile, Brother Tyler Winklevius was focused on the news that Goldman Sachs, who has been bitcoin risk averse in the past, has appointed a digital asset manager.

Now Goldman Sachs is in Bitcoin. What a “Don’t Buy Bitcoin” report published 3 months ago in May

As Cointelegraph reported, the trend could well continue if the Fed takes action to raise inflation from 0.6% to 2% to 4%, which is “very bullish,” at least for gold, as one analyst said this week .

PAL: Bitcoin outperforms gold in the face of G4 money pressures
Regardless of the stimulus package the government comes up with, expanding the money supply and artificially supporting the markets will inevitably encourage Bitcoin supporters.

The Federal Reserve’s balance sheet on Aug. 7 was $ 6.94 trillion, and the total national debt of the United States was $ 26.6 trillion, or $ 214,000 per taxpayer.

Federal Reserve year-to-date balance sheet chart

Federal Reserve year-to-date balance sheet chart. Source: Federal Reserve

Outside of the US, the effect of money pressures has now become so alarming that analysts are uncovering strange investment numbers that could only have occurred due to major currency intervention.

For example, the Turkish lira fell to a record low against Bitcoin earlier this week as investors questioned the country’s ability to sustain the value of its volatile currency.

Elsewhere, the combined balance sheet of central banks in the G4 has risen so much that the rise in gold prices to all-time highs seems insignificant to the US dollar.

“Many of us have gold to offset the mitigating effects of central bank balance sheet growth on the fiat growth currency. However, the G4 BS outperformed the gold rally, ”tweeted Raul Pal, founder and CEO of Global Macro Investor and Real Vision Group on Monday. Thursday, download comparison tables.

Pal continued to point to the significant advantage Bitcoin had over gold in this regard, despite the underlying gains over the precious metal.

He summarized:

In fact, only one asset could offset the growth of the G4 balance sheet. They are neither socks nor bonds, nor goods, nor credits, nor precious metals or minerals. There has only been one asset that has outperformed significantly on nearly every time horizon. Yes. #Bitcoin $ BTC “.

Source: CoinTelegraph

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