Bitcoin is about to become a hot asset as the US central bank goes ahead with its pseudo-quantitative easing program, believes a few bigwigs.

Travis Kling, the chief investment officer at California-based Ikigai Asset Management, called bitcoin “an insurance policy” against Jerome Powell’s decision to resume Treasury purchases. The Federal Reserve chairman on Tuesday confirmed that they would purchase short-term bonds to expand their balance sheets.

Fed’s move, according to Kling, signals a liquidity crunch in the US market, which means the central bank is injecting a fresh supply of dollar-denominated assets to stimulate the US economy. It is an equivalent of quantitative easing (QE).

“Welcome to QE4,” tweeted Kling.

Fed: Everything is Fine

Powell refused to call the Treasury Purchase a QE program, stating that it is nowhere the same as the crisis-era…



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Author: Davit Babayan

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