Federal Reserve Chair Jerome Powell has announced new measures to control inflation, in a speech that could have long-term implications for the Bitcoin price and cryptocurrency.
MicroStrategy Chief Executive Michael Saylor said Bitcoin is superior to cash after the Nasdaq-listed data analytics firm sent shockwaves through the cryptocurrency world with a $250 million inflation hedge investment into Bitcoin.
Bitcoin’s price in 2020 has beaten stocks, gold, and many other assets in year-to-date return on investment (ROI). Even billionaire hedge fund manager Paul Tudor Jones has stated that he has just over 1 percent of his assets in Bitcoin.