US, WASHINGTON (ORDO NEWS) — Negative rates on deposits in the United States in an attempt to stabilize the system are a megabyte signal for bitcoin, Dan Tapiero, co-founder of Gold Bullion International and 10T Holdings, is sure.
Negative interest rates have arrived in the US! 6mo t-bill at -2bps. Means you need to PAY US govt for 6mo cash deposit. Rates to go much more negative to weaken dollar. This is confiscation and it is bad but it needed for now to stabilize system. Mega bullish for #Bitcoin pic.twitter.com/mwgEhnXKsD
— Dan Tapiero (@DTAPCAP) March 19, 2020
Tapiero also noted that the current imbalance of the dollar will be a test of the viability of the existing financial system.
Recall that the US Federal Reserve against the backdrop of a growing threat to the economy from the coronavirus decided to lower the key rate range by 125 bp. up to 0-0.25%, as well as to buy back Treasury bonds and bonds with a mortgage cover in the total amount of $ 700 billion.
BitMEX analysts emphasized that the policy of the US Federal Reserve could only contribute to financial crises, since during each of them the solution was to reduce interest rates.
How the impending global financial crisis, which researchers warn about, will affect the cryptocurrency industry, can be found in the exclusive ForkLog .
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