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US political veteran Ron Paul - Federal Reserve monetary policy to promote cryptocurrency soaring prices

Former U.S. Congressman Ron Paul said he believes the monetary policy of the U.S. government is driving up prices for cryptocurrencies, such as bitcoin.

I think cryptocurrencies reflect the disastrous dollar currency system.

He said in an interview. Paul specifically mentioned the abuse of credit during the implementation of QE. Quantitative easing refers to the central bank through the purchase of bonds and other financial assets to encourage lending, so as to stimulate the market. And Paul believes that part of the reason for the increase in cryptocurrency prices comes from such policies.

He continued:

I think cryptocurrency will still exist if there is no quantitative easing, no such high inflation, and no pressure on the flow of US dollars. But I do not think there will be a huge bubble like today.
It is perhaps not surprising that the politician made the comment, as he has long supported the encryption of money.
In October of this year, Paul said that although he did not consider bitcoin a real currency, he thought the U.S. government's power to regulate the technology should be limited anyway .

If people want to use cryptocurrencies, the government should not interfere too much.
In addition, at the beginning of the month Paul also launched an online poll on Twitter - if you give you something worth $ 10,000 as a gift, but you must not use it for 10 years, do you choose bitcoin, gold, or dollar? The result showed that over half of the participants chose Bitcoin.