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The US Federal Reserve appears to indirectly own Bitcoin



While the top management of the US Federal Reserve System (FRS), which acts as the country’s central bank, often publicly criticizes the cryptocurrency in general and Bitcoin in particular, the Fed itself, as reported, has been operating Bitcoin for quite some time, albeit indirectly.

After the COVID-19 pandemic hit credit markets hard last year, the Fed bought ETFs to get the economy off the ground.

The highlight is that a portion of these assets, usually denoted by the ticker symbol JNK (junk bonds), are set aside for the corresponding MicroStrategos issued last Tuesday. MicroStrategу, in turn, is now actively buying cryptocurrency and intends to raise $ 400 million for these purposes. That is, technically, this means that the Fed, if it still owns the relevant fund, has made a certain contribution to the purchase of Bitcoin by MicroStrategу. True, we are talking only about 0.01% of those ETFs. The Fed also has other bonds associated with MicroStrategу.

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