Central Bankers Ready to Boost Bitcoin Price Sky-High; Here’s Why
According to its proponents, the value proposition of (BTC) was dramatically accentuated on Thursday, when central bankers continued their march towards debasement and uncharted monetary territory.
Why Crypto: European Central Bank Cuts Rates, Commences QE
For those who missed the memo, the European Central Bank (ECB) on Thursday revealed that it would be activating yet another round of dovish monetary policies.
While cryptocurrencies were created to be abstracted from the ins and outs of the fiat world, analysts say that this move by the ECB, coupled with similar steps from other leading central banks, should only prove the need for Bitcoin.
According to a , the monetary body overseeing the Euro cut its interest rate for deposits by 10 BPS (0.1%) to -0.5%. Simultaneously, the central bank revealed that it would be , promising to purchase some 20 billion Euros worth of bonds and “other financial assets” (not Bitcoin, that’s for sure) every month in hopes that the economy will remain stimulated.