The FED brought a record amount of money to the market this year. The amount of dollars released this year constituted 22% of the total amount of dollars issued to date. Dan Morehead said Bitcoin could be the solution to the current crisis.
Pantera Capital CEO Don Morehead said in an article published this year that 22% of the money printed in the last two hundred years since the founding of the USA. Stating that a record level of money was printed in June, Morehead pointed out that the current budget deficit of $ 864 billion was at the highest level of two centuries.
Inflation at the Door
Peter Schiff, CEO of Euro Pacific Capital, criticized the crisis management of the FED in a post he made on Twitter and wrote that the USA is facing a period of great inflation. Stating that the credibility of the FED will be lost if the crisis grows, Schiff stated that the American Central Bank papers will soon have no value.
US congressman Ron Paul addressed the public with a video he published. Speaking about the expected financial crisis, Paul said that the FED’s efforts were insufficient and that Americans should be prepared for this crisis.
“Solution to the Crisis: Bitcoin”
Stating that Bitcoin could be the solution to the current crisis, Dan Morehead pointed out that the total amount of BTC that could exist is limited to 21 million and inflation is not in question. Speaking about the big investments made with the first money that the USA printed in its foundation, Morehead criticized the Fed’s recent policies and stated that they could be in favor of Bitcoin.