A turbulent political situation in the US is causing the Federal Reserve to print more money, thereby pushing up the prices of other assets, according to a post published yesterday by blockchain hedge fund Pantera Capital.
One of those assets is Bitcoin, and its price is skyrocketing - thanks to tech companies buying a lot of cryptocurrency.
"The PayPal and Cash app bought over 100% of all newly issued bitcoin," the post said. As other larger financial institutions follow their instructions, the supply scarcity becomes even more imbalanced. The only way between supply and demand to balance is at a higher price level.
With the big tech companies taking in too much Bitcoin, the price will only go up - but will it make the cryptocurrency less accessible for everyday people who don't have millions of dollars to plug into electricity money death?
Do you think Bitcoin price will continue to scale and create new milestones?
