Money-Printing Criticism from Elon Musk Prompts Analysts to Advise Purchase of Bitcoin, Gold, and Silver.

Quick Summary:

Elon Musk has compared the Federal Reserve with a rule from a Monopoly game, stating that, just like the game bank, the FED can never go bankrupt, and it can always emit more money.

This analogy has led to discussions on the subject of monetary policy, particularly with the forecasted resumption of quantitative easing (QE).

He, however, continues to be negative about Bitcoin, calling it “dead money” and mentioning the likelihood of negative side effects of outflows from Bitcoin ETFs.

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Article Details

Author / Journalist: Kelvin Munene Murithi

Category: Crypto

Markets: India

Topics: Silver Gold Bitcoin News 24/7 Cryptocurrency News Federal Reserve Elon musk Bitcoin

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-05-12 @ 08:16:07 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 562 words

Reading Time: 4 minutes read

Sentences: 33 lines

Sentence Length: 18 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 20940375

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