USD bear and BTC bull?

Do you belive bitcoin will rise again?

  • no

    Votes: 0 0.0%
  • possibly

    Votes: 0 0.0%

  • Total voters
    2
Mar 31, 2020
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The Federal Reserve is now printing INFINITE Dollars with 0% interest. $USD will soon be WORTH LESS. The time has come to be your own bank fellas and look for gold or bitcoin instead, bitcoin has already started going up(source - https://bitcoin-pris.se/) and there's good profits if this trend keeps going.

For those of you who has alot of dollars time is of the essence, few hours ago somebody just bought 1000 BTC with USD over kraken kraken.png

and that's likely not the last whale to come, soon big corp around the world are possibly going to get rid of their dollars which could mean that we're looking at an all time high for Bitcoin and other crypto currency as the monetary market is crumbling and resources gets harder to transport because of the virus and politics.

What's your thoughts on this and how will you act to protect or even profit from this?
 

Enivid

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Nov 30, 2008
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Although I believe that Bitcoin is going to rise again, your reasoning for this is totally bonkers, to put it mildly. Fed's QE isn't the same as money printing in the conventional sense. Big corporations cannot get rid of their dollars because they still have to pay taxes in USD (if we are talking about US companies).
 
Mar 31, 2020
2
0
6
42
Although I believe that Bitcoin is going to rise again, your reasoning for this is totally bonkers, to put it mildly. Fed's QE isn't the same as money printing in the conventional sense. Big corporations cannot get rid of their dollars because they still have to pay taxes in USD (if we are talking about US companies).
Im talking foreign companies or even countries, we've seen Russia getting rid of their Dollars for more than a year now
 

Enivid

Administrator
Staff member
Nov 30, 2008
13,231
553
144
Odessa
www.earnforex.com
Im talking foreign companies or even countries, we've seen Russia getting rid of their Dollars for more than a year now
Russia is just one country (though it still holds a large portion of its reserves in USD as it sells some of its oil for USD). The share of the USD in FX reserves across the globe is actually rising during the last three years:

Moreover, it is rather difficult to dump a large share of USD reserves for a country - a sale will result in a simultaneous devaluation of the country's foreign exchange reserves and skyrocketing domestic FX rate, which will hurt the country's exporters.

As for the foreign companies, they normally don't hold really large USD balances, and those that do rely on USD (like Saudi's Aramco) with their revenue being predominantly in USD.