As Fed Holds 0% Interest, Bitcoin Wins

During today’s Federal Open Market Committee (FOMC) press conference, Chair of the Federal Reserve Jerome Powell maintained that the Fed will keep its fund rate unchanged at 0.00% to 0.25%.

Powell also confirmed that the Fed will maintain the current pace of balance sheet expansion with the continuation of buying $80 billion of U.S. Treasury bonds and $40 billion of mortgage-backed securities per month. The Fed’s commitment to dovish monetary policy was expected, and the ramifications of continued easy money is extremely bullish for bitcoin, as well as for other asset classes.

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