crypto · Economic History · Federal Government

They’re Getting Fearful

Today as I was browsing Twitter the following article popped up:

Imagine that. UBS is warning people that the major threat to cryptocurrency as a dominant means of exchange lies with the inability of central banks to control it by limiting total money supply. This honestly sounds like the product of some bizarro alternate reality. Such organizations have (at least in recent history) printed money and flooded the market with extra cash, not restricted the amount available. Do I sense a desire to manipulate the market and maybe snag some cheaper BTC for late-arriving buyers at UBS?

Time will tell. It’s no secret however that UBS has been on the warpath with their fear predictions, as seen just a week prior:

Of course if they do manage to drive the price down, smart folks will pick up a little more. The big shots will catch up, eventually.