FED LEADERS CALL BITCOIN "DIGITAL GOLD" – RATE RISKS RISE 🥇
🏛️ BREAKING: FED CHAIR WARSH CALLS BITCOIN "NEW GOLD FOR UNDER 40s" – FIRST PRO-BITCOIN FED BOARD IN HISTORY
This is historic.
The new Federal Reserve Board is being described as the most pro-Bitcoin in the institution's history .
What Fed leaders are saying:
Fed Leader Statement on Bitcoin Kevin Warsh (Chair) Bitcoin is "new gold" for younger generations; a "transformative technology" Christopher Waller (Board) Bitcoin is "electronic gold" a store of value alternative to precious metals
The twist (and it's a big one):
Despite being pro-Bitcoin, Warsh is still an inflation hawk. The bond market is already hiking for him .
The conflict:
Warsh wanted the option to cut rates on day one
The bond market took that option off the table by hiking yields above the policy band
Now markets are pricing a potential RATE HIKE by December
👇 Pro-crypto Fed Chair but potentially higher rates – bullish or bearish for Bitcoin?