Are the federal reserve still unintentionally plugging BTC?

Quick take

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• Tyler Winklevoss put out a tweet earlier today indicating the Federal reserve is unintentionally still advertising the leading cryptocurrency mentioning that it was code for buying bitcoin.

• Jerome Powell, the head of the federal reserve was addressing a news conference which followed a November 5th meeting in regards to the state of the economy and future measures.

One-half of the Winklevoss twins, Tyler Winklevoss put out a tweet earlier today on the 6th of November indicating that the United States Federal reserve is unintentionally still advertising the leading cryptocurrency mentioning that it was code for buying bitcoin.

This is code for buy #Bitcoin https://t.co/9k2wQVP0OG

— Tyler Winklevoss (@tyler) November 6, 2020

Jerome Powell, the head of the federal reserve was addressing a news conference which followed a November 5th meeting in regards to the state of the economy and future measures.

As he has said previously, he made it clear that the central bank in the United States had not yet used all of its tools for supporting the economy following the COVID-19 pandemic and the economic crisis that has followed. So far, these have included heavy interventions in the stock market, financial stimulus measures and even direct payments to the American public.

According to a Reuters video, Jerome said:

“I just would say that I think we’ll have a stronger recovery if we can just get some more fiscal support, when… Congress thinks it is appropriate.”

Many people around the world have been cautious about what the long-term and short-term impact would be by getting involved too much such as the American government (and as many other governments) have over the course of 2020. This has been represented by the huge increase in public debt seen all over the world due to the pandemic.

The balance sheets for the federal reserve stood at over $7 trillion his week which is near to record highs. The national debt in the United States has topped out at $27 trillion which is a figure that has never seen never been seen before throughout the whole of American history.

We all knew that the pandemic was going to be catastrophic for our way of life and the economy and it has been a big talking point in The United States presidential election between Joe Biden and Donald Trump.

Currently, we still haven’t got a solid president yet as the votes are still being counted but Joe Biden is ahead in the polls and it looks like he’s going to see the victory.

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