The below is a direct excerpt of Martys Bent Issue # 1222: “The Fed is officially scared of bitcoin (or quietly attempting to endorse it)” Sign up for the newsletter here.via the St. Louis Fedvia the St. Louis Fedvia the St. Louis FedThe comics over at the St. Louis Federal Reserve dropped a blog site post earlier today that compared the change of eggs costs in U.S. dollars and sats from the start of 2021 through April 2022. Sure, bitcoins rate did vary more quickly over the timeframe, however if the Fed is going to cherry pick information, we here at TFTC are going to do so as well to prove why this isnt the most precise representation of the situation.If the Fed were to be more honest– and get their heads out of the gutter of short-termism– they would share what they shared above, but likewise zoom out a bit (as is made possible on the extremely page of the tried dunk) to offer their readers a more accurate depiction of the deflationary propensities of bitcoin over longer durations of time and compare it to the U.S. dollar. Since they were reluctant to do it in their blog post, we will share that details with you in our rag today.via the St. Louis Fedvia the St. Louis FedAs you can see by zooming out, the price of eggs as determined in sats fell by– * checks notes *– 99.3% given that January 2015 (when the Fed began tracking bitcoin data), while rising by 19.2% in U.S. dollars.
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