Buy Bitcoin, End The Fed, Says Ex-Coinbase CTO Ahead Of FOMC
Bitcoin News: Balaji S. Srinivasan, former CTO of Coinbase crypto exchange who recently set a bet on the Bitcoin price to reach $1 million in the next 90 days, dropped his expectations around rate hikes before the crucial FOMC meeting. However, the global digital asset mark printed green indexes despite the fear in investors regarding the ongoing banking crisis.
Bitcoin Looks Calm; Fed In Chaos
Srinivasan suggested several improvements in the system as it looks broken to him. He highlighted that on the left, the market is in chaos over the Fed rate, however, on the right, Bitcoin is looking calm amid all the crises.
Buy Bitcoin And End the Fed, stated Coinbase Ex-CTO. He mentioned that one cannot plan for the future when the governing authorities are making it up. Recent chaotic graphs depict that the agency has no clue of what they are doing.
Mocking the agency’s attempt to calm down the banking crisis, Srinivasan marked it as the academic justification for political decisions. He further stated that the Fed is lacking in keeping the check and balances. However, if a sales guy misses a forecast of million dollars, the guy loses his job, while if the Fed misses a forecast of trillion dollars, there is no accountability check. Read More Bitcoin News Here…
Also Read: Crypto firms Turn to Swiss Banks After Silvergate and Signature Fall
As per the Former Coinbase CTO, the Federal Reserve has moved the rates in both directions so hard that they crashed the entire US banking system. He advised the investors to stick with dollars or Buy Bitcoin amid the chaos.
Bitcoin price has managed to register a surge of 15% over the past 7 days. Holding the crucial $28k level, BTC is trading at an average price of $28,166, at the press time.
Also Read: Bitcoin Price Set For $35,000 After US Fed Rate Hike Decision
- Ethereum and BMNR Rallies as BitMine Drops $1B on ETH, Analyst Hails “Most Bullish Setup Yet”
- ASTER Deposits Flows Into Binance Wallets Following CZ Endorsement, Listing Incoming?
- Avalanche Treasury Seals $675M Deal With Mountain Lake to Build $1B AVAX Vehicle
- Just In: Nasdaq-Listed VivoPower Raises $19M in Equity to Expand XRP Treasury Holdings
- Solana Price Rallies 5% as Nasdaq-listed VisionSys Launches $2B SOL Treasury Strategy
- Cardano Price Forecast As Hashdex Listing Fuels Optimism For $1.27 Breakout
- BONK Price Rally Ahead? Open Interest Jumps as TD Buy Signal Flashes
- Shiba Inu Price to Surge as Whales Buy and Team Commits to Shibarium Growth
- XRP Price Prediction After Ripple CTO David Schwartz Resigns
- SUI Price Eyes $4.5 as Coinbase Futures Listing Sparks Market Optimism
- Chainlink Price Holds $20 Support Amid Tokenization With DTA Standard Progress – Is $47 Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
