The bitcoin price has lost around 60% since peaking at almost $70,000 per bitcoin in late 2021, wiping around $2 trillion from the price of ethereum, XRP and the rest of the crypto market—even as a BlackRock insider primes the market for a $17.7 trillion earthquake.
Now, as the Federal Reserve grapples with a $33 trillion U.S. “debt death spiral,” Jefferies’ analysts have warned the Fed will be forced to restart its money printer—potentially collapsing the U.S. dollar and fueling a bitcoin price boom to rival gold.
“G7 central banks, including most importantly the Federal Reserve, will not be able to exit from unconventional monetary policy in a benign manner and will ultimately remain committed to ongoing central bank balance-sheet expansion in one form or another,” Christopher Wood, global head of equity strategy at Jefferies, wrote in a note to clients seen by CNBC, calling bitcoin and gold “critical hedges” against the return of inflation.
Source: forbes