The Fed Just Printed More Money Than Bitcoin’s Entire Market Cap

Bitcoin (BTC) proponents are voicing fresh alarm after the United States Federal Reserve printed more than its entire market cap in new money this month.

Fed balance sheet approaches $4T

As noted by cryptocurrency social media pundit Dennis Parker on Oct. 21, since mid-September, the Fed has injected $210 billion into the economy. 

Part of its newly-revitalized quantitative easing (QE) strategy, the move dwarfs the total market cap of Bitcoin, which stands at $148 billion. 

QE refers to the buying up of government bonds in order to provide economic stimulus. The Fed’s balance sheet, Parker notes, jumped from $3.77 trillion last month to $3.97 trillion. It had previously been higher, while the Fed’s own projections call for a balance sheet worth $4.7 trillion by 2025. 

World “sleepwalking” into the next financial crisis

For holders of assets that cannot have their supply inflated, such as gold and Bitcoin, money printing has regularly sparked calls to decrease reliance on fiat…