Former US OCC chief Brian Brooks said on Monday that “the lowering of the price of global currencies is why companies like Tesla and MicroStrategy are investing in Bitcoin, and it should be troubling to the rest of the world.”
OCC is a subordinate of the US Department of the Treasury and is responsible for the control of banks in the country.
Brooks, who left the OCC last month, said, according to a report on CoinDesk, “For people who have invested in Bitcoin, this is exciting news. For the rest of the world, this is actually a bit of scary news,” he said.
Brooks was partly in response to Tesla’s announcement on Monday that it had invested $1.5 billion in Bitcoin and would like to acquire more digital assets. As we reported on Kriptokoin.com , Tesla’s investment news has pushed the Bitcoin price to an all-time high.
Former auditor stated that the main US money supply has increased by 25% since the beginning of the epidemic and will increase by 40% compared to a year ago when the latest type of stimulus is introduced in the next few days. Brooks said:
“Very strange, isn’t it? Here’s how inflation works: The more assets you own, the less they cost. This explains why many institutions want to keep Bitcoin in their treasury, as it is potentially a much more stable source of value in the long run.”
The latest situation in Bitcoin price
After Tesla’s Bitcoin purchase fell on the agenda, the crypto currency unit, which was in the first place according to the market value, exceeded 44.000 dollars and reached the highest level of all time. . Since then, BTC has been changing hands around $43,000. At the time of writing, it’s trading at $43,200, up 11 percent.