The ongoing economic crisis can be a very interesting catalyst for future Bitcoin adoption. Recent actions and statements by the Fed certainly have a lot of people on edge right now.
The coronavirus has highlighted several inefficiencies in the current financial system.
What is the Fed up to?
Central banks are very keen to ensure the current system remains in place, even though it is a band-aid on a wooden leg.
Recent actions by the Fed paint a bleak outlook for that system, however.
Actively increasing the money supply by nearly 10% in just a month and a half is never a smart approach.
Moreover, It is believed that the speed of printing USD will only pick up as the economic fallout due to the coronavirus becomes more apparent.
Perhaps the most worrisome development is how the Fed expressed interest in buying stocks directly.
Former Fed Chair Janet Yellen is one of the individuals who prefers direct access to stocks.
While this would be a substantial change, it may also open the proverbial floodgates.
Central banks getting involved directly with the stock market isn’t necessarily a positive development by any means.
All of these developments are very interesting to keep an eye on, although one should hope they don’t come to pass anytime soon.