Losing confidence in the central bank is one of the factors behind the rise in bitcoin

The founders of cryptocurrency funds also say that "many people have lost their trust in central banks".

The reason is the irresponsible fiscal policy of the Federal Reserve (FED).

Recently, the movement of whales, which hold a large amount of major crypto assets, is also attracting attention, as prices of cryptocurrencies have fluctuated significantly in the past two weeks.

It is reported that an unknown Bitcoin wallet has moved "20,000 BTC (about 11 billion yen)" to another wallet in an imminent movement, and a movement to withdraw BTC worth hundreds of millions of yen from exchanges. Is seen.

Under these circumstances, some experts believe that "the trust in central banks is decreasing" promotes "encryption currency buying."

The owner of the wallet ranked in TOP 100, which holds a large amount of Bitcoin (BTC), has accumulated a total of 150,000 BTC (approximately 64 billion yen) in about two months from the end of December 2018 to the end of February 2019 It has been reported before that.

Bitcoin prices at the time were trading at "1 BTC = around 360,000 yen" much cheaper than now.

According to "Whale Alert (@ whale_alert)", which reports a large-scale remittance of cryptocurrency, "10, 439 BTC" and "9, 939 BTC" were remitted on April 11, 2019 at the same time. It is shown.

Since both of these two transfers are "transfer from unknown wallet to unknown wallet" and are not sent to the cryptocurrency exchange address, the wallet owner is trying to sell bitcoin It is not considered.

Along with this movement, it has also been reported that remittances of about 500 to 1,000 BTC are being made one after another from unknown cryptocurrency exchanges to unknown wallets, totaling 42,616 BTC (about 24.4 billion yen) in 24 hours. It is also said that large sums of bitcoins are starting to accumulate because

The exchange where these withdrawals were made,

-Poloniex (Poroniex)

・ Bittrex (bit rex)

・ Bitfinex (bit finex)

・ Binance (binance)

・ Huobi (Fobi)

・ Okex (Okey EX)

・ Kraken (Kuraken)

・ Coinbase (coin base)

・ Korbit

is included.

It is expected that more and more people are buying bitcoin because the price of bitcoin has recovered significantly in recent weeks, but some experts We believe that "bit coin buying" is largely affected by a decline in trust in legal currencies.

Travis Kling, founder of the cryptocurrency fund "Ikigai Asset Management," said recently that "the Federal Reserve (FED) has taken on irresponsible fiscal policy, many I have lost my credibility. ”

He believes that those who can not trust the central bank are transferring funds to Bitcoin as a defense, and they believe that such is combined with the rising bitcoin price.

Central banks are generally responsible for the recent price increases.

Bitcoin has become a defense against irresponsible monetary and fiscal policies.

The United States is in a situation where central banks are also politicized worldwide.

The FED has raised interest rates four times in 2018 and has raised seven times in the past two years.

President Trump is strongly criticizing such FED policies, and former presidential candidate Ron Paul (Ron Paul) has also criticized that "the FED should be abolished."

President of the Federal Reserve Board (FRB) Chairman Jerome Powell (Jerome Powell) suggests that in March 2019 "I will not raise interest rates this year," but confidence in the legal currency is still weak ing.

Ron Paul and several other celebrities have long said that "the legal currency could go to an end," and they use alternative money such as bitcoin as a solution to these problems. Insisting that cryptocurrency should be exempt from tax.

It is also considered that the "large amount of bitcoin purchases" reported here recently may indicate that "the end of the legal currency" is gradually approaching.

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