The loss-adjusted market cap of the world’s leading cryptocurrency bitcoin is 87% of $104.15 Billion the amount that the Fed recently injected into the liquidity fund.
The US Federal Reserve usually injects some funds through Quantitative Easing (QE) into the financial market so that they could maintain the short term liquidity and ensures that the liquidity is not going to dry out. And a few days ago, we have seen another sum of $104.15 billion added by the NEW York Federal Reserve on Thursday.
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Quantitative Easing is a monetary policy by which the central banks purchase certain amounts of bonds and other financial assets for the sake of adding liquidity into the economy.
Fed’s Latest Liquidity Injection
The Wall Street Journal reported on 18th Oct that the Federal Reserve Bank of New York has inputted an amount of $104.15 Billion on Thursday into the temporary liquidity of financial markets.
As the WSJ report states:
On Thursday, the Fed added $104.15 billion in temporary liquidity. Its first foray into growing its holdings through the buying of Treasury bills happened on Wednesday.
Tuur Demeester says its 87% of BTC loss-adjusted Market Cap
A Bitcoin Supporter and the founding partner at Adamant Capital, Tuur Demeester has given his remark on the recent liquidity injection of New York’s Federal Reserve Bank.
He says that the Fed’s amount of $104.15B is 87% of the bitcoin loss-adjusted market cap. He gave his remark in his tweet.
$104B in QE just today… that’s 87% of Bitcoin’s loss adjusted market cap. https://t.co/46Tlzdyv1A
— Tuur Demeester (@TuurDemeester) October 18, 2019
Bitcoin Market Cap is above $140 Billion
The market capitalization of bitcoin is standing above the figure of $140 Billion. This market cap of the coin is noted when BTC price was trading at $7,966.14.
This current market cap (over $140) which is regarded as the loss-adjusted market cap of Bitcoin is 87% of the amount that the Federal Reserve Bank of New York had injected two days ago in the temporary liquidity.