Bitcoin has upped the ante, shooting past $13,000 on a vertical climb. Just yesterday I posted this article about Bitcoin crossing the $12,000 mark for the first time. At the moment it's a case of blink and you'll miss it, such is the rate of BTC price growth.
Some are speculating that the drive past 12k to the present level could be due to President Trump's nomination of Marvin Goodfriend to the Board of Governors of the Federal Reserve. Goodfriend is known for radical views on monetary policy, such as abolishing paper currency and imposing negative interest rates. This would force people into using banks and having to spend their money or lose it.
While there are surely many factors influencing the price of Bitcoin, the idea that Goodfriend's nomination is playing a role certainly has merit. If Goodfriend's ideas came to pass, holding Bitcoin would allow individuals to keep control of their finances, despite the structure of the economy around them.
Bitcoin to the Moon is a blog dedicated to following the original cryptocurrency on a journey to its ultimate destination.
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