Key Bitcoin Takeaways from Fed’s September Meeting Minutes

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Bitcoin rose by more than 200 percent from its mid-March nadir at one point this year, supported by the Federal Reserve’s unprecedented expansionary policies. But minutes from the US central bank’s meeting last month showed their officials disagreeing on implementing their new policy frameworks. Some officials noted that they would need to clarify their final words around the purchases of Treasurys and mortgage-backed securities. Overestimating Growth Divisions also appeared over how to make their lower interest rate promises more straightforward, casting doubts on how the Fed officials would reach consensus on their asset-purchase plans. The policies were instrumental in driving the Bitcoin prices upward after they crashed by up to 60 percent in March 2020. Near-zero rates and unlimited bond-buying reduced yields to record low levels. That prompted investors to seek profits in riskier markets, benefitting Bitcoin, gold, and US equities. Bitcoin corrected by more than 14 percent from its…

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