From February 26 through April 8 the Federal Reserve balance sheet has grown by approximately $2 trillion. That’s an amount equivalent to 10X the total crypto market cap of $200 billion. In other words, imagine the value of all of the cryptocurrency in the world combined, multiply that by 10X, and that is the amount of money that the Federal Reserve has printed out of thin air in just 1.5 months.
This rate of money printing is unprecedented. During the worst of the 2008 Great Recession the Federal Reserve balance sheet grew by $1.3 trillion, followed by another $2.3 trillion of growth between 2008 and 2014.
Essentially, in roughly 2 months the Federal Reserve balance sheet has increased by the same amount as it did in the 6 years between late 2008 and 2014. Further, the Federal Reserve balance sheet is still growing at an extreme rate. When all is said and done with the Coronavirus Pandemic much more than $2 trillion will have been printed out of thin air.
Notably, this is the exact reason that Satoshi Nakamoto created Bitcoin (BTC). Satoshi witnessed the trillions of dollars of out of control money printing during the 2008 Great Recession and wanted to provide the world with a decentralized currency that would not be devalued by Central Bank money printing.
Now history is repeating itself, and it is quite possible that fiat currency worldwide will be devalued due to this unprecedented level of Central Bank money printing. Fortunately, the world now has Bitcoin (BTC), which will likely act as a safe haven if fiat currency begins to hyperinflate.