"Increase in Money Supply to Become New Momentum for Bitcoin"
Son Min
Summary
- Ecoinometrics stated that the increase in money supply will become new momentum in the Bitcoin market.
- The M2 growth rate has reached 3.7%, approaching the pre-COVID-19 average of 5%.
- Historically, an increase in money supply has promoted the adoption of Bitcoin.
There is a claim that the increase in money supply will act as new momentum in the Bitcoin (BTC) market.
On the 30th (local time), Ecoinometrics stated on X, "The M2 (financial products issued by deposit-taking institutions, cash currency, transaction deposits, deposits of less than two years) growth rate has reached 3.7%," adding, "It continues to show an upward trend, reaching the average pre-COVID-19 money growth rate of 5%." Furthermore, they mentioned, "Historically, an increase in money supply has promoted the adoption of Bitcoin," and "it will act as new momentum in the Bitcoin market."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit