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05:25
Fed Governor Mester: The Fed Does Not Have Absolute, 100% Pure Independence
BlockBeats News, February 10th, Federal Reserve Governor Milan stated that the Fed's balance sheet needs to shrink, but this should not deter policymakers from choosing to engage in large-scale asset purchases during an economic crisis. "Even as the balance sheet shrinks, the central bank still needs to retain the ability to use quantitative easing during a crisis." He pointed out that the dollar needs to experience a "truly significant fluctuation" to have a significant impact on inflation. Discussing the independence of the Federal Reserve, Milan stated that central bank independence will lead to better policies, but it is a means to an end, not an end in itself. "During a crisis, there will be extensive cooperation between the Federal Reserve and the Treasury Department. There is no absolute, 100% pure independence; nevertheless, making decisions based on economic needs is crucial—we tighten when the economy needs tightening, we loosen when it needs loosening, and not for other reasons."
05:12
A trader made a profit of $157,000 in 12 hours by betting on the price movements of BTC and ETH.
PANews reported on February 10 that, according to monitoring by Lookonchain, a trader named "655555" made a profit of $157,000 in less than 12 hours by betting on the price movements of BTC and ETH. Currently, he has once again spent $292,600 to bet that bitcoin will rise before 2:00 AM (UTC+8) on February 10, Eastern Time in the United States.
05:12
「Wood Sister」: Bitcoin is a key asset embodying three major changes, and its low correlation with gold will promote its attribute diversification
BlockBeats News, February 10th, Cathie Wood, also known as "Wood Sister," stated in her latest podcast that Bitcoin is not the traditional "digital gold" in a literal sense, and therefore, its short-term behavior does not align with that of gold. From 2019 to the present, the correlation coefficient of Bitcoin's and gold's returns is only 0.14. This is precisely the value of Bitcoin as a diversifying asset: low-correlation assets can enhance the risk-adjusted returns of the overall portfolio. She pointed out that the key to successful diversification is to add new assets with low correlation, and Bitcoin fits this criterion. Furthermore, Cathie Wood defines Bitcoin as an asset that embodies "three revolutions in one": Global digital, sovereign monetary system; Adding a new layer to the internet stack to support native currency and intelligent agent/commerce; A new asset class (with Bitcoin as the most secure, largest network representing encrypted assets). She describes Bitcoin as being in the early stages of the innovation S-curve. Like all historically disruptive technologies, it experiences volatility, frequent pullbacks, but this is a normal part of the growth path rather than a signal of its demise.
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