Guy Adami, in his recent episode of CNBC’s “<a href="https://www.cnbc.com/fast-money/">Fast Money</a>”, made his feelings known that he feels the U.S. Federal Reserve, just like Bitcoin is generating money out of thin air. He criticizes the repo market’s bailout by the central banks. He goes on a record :

<strong> “The big knock against Bitcoin is it’s created out of thin air. But, quite frankly, that’s exactly what the Federal Reserve has been doing since September. They’ve been creating liquidity out of thin air.”</strong>

The U.S. Federal Reserve shared the limelight in September 2019 after a $400 million balance sheet expansion. On Dec 31, the Fed decided to inject $150 billion dollars into the repo market. In order to solidify the sustainability of liquidity, they heaped a substantial amount of $83.1 billion on Jan 9.

Guy Adami is optimistic that the Fed ( not jobs and the China deal) is the primary motive behind the increasing U.S. stock market that continues to topple the new all-time highs. In his view, the market is historically overbought if the multitude of metrics is to be believed.

<strong>“This overrides everything. As long as the Fed keeps playing this game, I think the market keeps vaporizing higher.”</strong>

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<h2><strong>The Backlash from the Crypto Community</strong></h2>
Due to his Bitcoin analogies, Guy Adami faced some flack from cryptocurrency community’s aficionados whose members were quick to state that it sticks out like a sore thumb that the computing power and electricity is the genesis of BTC. The befuddling mathematical process accompanied by the hard cap of 21 million coins only adds value to their values. However, cynics opinions are that the cryptocurrencies at the summit are eluded by anything, and bad actors falsify its price.

President of the U.S. Donald Trump also is along the same lines as Adami as he <a href="https://www.cryptoknowmics.com/news/us-president-donald-trump-i-am-not-a-fan-of-bitcoin">had stated in July last year that he doesn’t really fancy the fanatical world of bitcoin</a>, as the whole idea of its existence isn’t concrete.

Guy Adami Finds Something Common between BTC and U.S. Federal Reserve

Guy Adami on his CNBC show " Fast Money " highlighted the parallels between Bitcoin (BTC) and the Federal Reserves,stating there existence is highly vague.

Zain is a fervid fan of bitcoin and has been meticulously covering the field for a fair amount of time now. An aficionado of Spider man, Liverpool and Slim Shady.

Guy Adami Finds Something Common between BTC and U.S. Federal Reserve

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