Gemini co-founder comments on $300 billion Fed bailout of banks
Gemini co-founder Cameron Winklevoss commented on the Fed's $300 billion loan to banks, saying the regulator gave everyone another $300 billion to buy bitcoins.
About $143 billion, or nearly half of the amount disbursed, was allocated to holding companies for two major banks, Silicon Valley Bank and Signature Bank, which went bankrupt last week.
The Fed preferred not to disclose the names of the other recipients, as well as their numbers. One way or another, the amount of funds allocated is huge.
After this news, or simultaneously with it, the cryptocurrency market began to rise, and on March 17, the price of bitcoin, the main heavyweight, broke through the level of $27,000.
This does not mean that organizations started pouring money into bitcoin en masse (in this case, its price would have risen several times), but investors who were denied compensation may well have invested in the cryptocurrency.
In addition, people may have been disturbed by regulators' statements that all Proof-of-Stake altcoins are securities, forcing them to convert crypto-assets into BTC. At any rate, this explains the noticeable growth of its market share.
