Dan Tapiero Is 'Mega Bullish' on Bitcoin (BTC) Amidst Financial Turmoil

Thu, 03/19/2020 - 19:32
Alex Dovbnya
Dan Tapiero explains why Fed's recent actions are 'mega bullish' for Bitcoin (BTC)
Cover image via www.youtube.com

Dan Tapiero, the founder of Gold Bullion International, says that the advent of negative interest rates in the US is 'mega bullish' for Bitcoin (BTC). In his viral tweet, he explains that they will make the dollar much weaker. 

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A new norm 

With the six-month U.S. Treasury bill sinking below zero, Americans have to adjust to a new reality where they will have to store their money under a mattress. While Tapiero refers to it as 'confiscating,' he admits that it's a necessary measure to stabilize the system.    

As reported by U.Today, the Federal Reserve decided to slash interest rates to nearly zero as a response to the coronavirus-driven crisis. Shortly after that, the Bank of England followed suit.   

President Trump has been pressuring the Fed to cut rates as part of his weak-dollar crusade. This could lead to overspending and boost inflation. 

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Bitcoin pops

Bitcoin (BTC) has finally surged above the $6,000 level for the first time since the massacre that happened last Thursday. It has been violently rejected at the crucial $6,400 level, which might mean that it was only a temporary victory for the bulls. 

That said, many analysts believe that rampant monetary easing will be bullish for BTC in the long-term since it's a disinflationary currency.   

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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