RATE Group | Will Bitcoin become the new global reserve currency?
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Will Bitcoin become the new global reserve currency?

18 Mar Will Bitcoin become the new global reserve currency?

Posted at 13:58h in Bitcoin News by

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Bitcoin BTC

Source: R.Danyliuk – Shutterstock

  • Due to the collapsing global economy, central banks worldwide are pumping billions of dollars into the market.
  • So far, Bitcoin is not moving in isolation from the stock market, so BTC has yet to prove itself as digital gold.

The Federal Reserve (Central Bank of America) has announced that it will provide more than USD 700 billion to stimulate the market. These measures are necessary as the global financial market continues to suffer greatly from the consequences and panic of the spreading coronavirus. Co-Founder & Partner at Morgan Creek Digital, Andreas Pompliano, describes on Twitter that the FED will buy up short-term loans from companies and banks.

Bitcoin, on the other hand, has a limited amount of money, so that in contrast to the classic monetary system, it is not possible to print an…

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