Shutting Off Fed ‘Money Printer’ Leaves Bitcoiners Out of Sorts
- With M2 dwindling, there’s less money floating around: Hogan
- Reversal of liquidity has contributed to crypto crash: Goodwin
The “Money printer go brrr” meme
Source: Reddit
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One of the most popular crypto memes during the Covid pandemic was about how the Federal Reserve was “printing” an endless amount of dollars -- “money printer go brrr,” in Twitter parlance -- and how that enhanced the value of Bitcoin, which has a capped amount of tokens.
Now the proverbial printer has been turned off, with the central bank raising rates and the price of the largest digital token crashing more than 50% this year, leaving the average investor caring little whether there is a finite amount of Bitcoin.