The Kevin Warsh "Shock" (The Bear/Bull Paradox)
Warsh has famously called cryptocurrency "software, not money."
The Bear Case: He is a critic of Quantitative Easing (QE). If he moves to aggressively shrink the Fed’s balance sheet, the "cheap money" that fuels crypto rallies could dry up.
The Bull Case: He supports a Wholesale CBDC (using blockchain for interbank settlements) and "market discipline." If he lets the traditional banking system feel the heat of its own risks, Bitcoin’s "Safe Haven" narrative could explode.
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