The Federal Reserve, normally a staid institution, became a viral meme this March after it printed $2.3 trillion to help the COVID-battered economy. The meme, known as “Money Printer go Brrr” or simply “Fed go Brrr,” shows central bankers cranking out an infinite supply of dollars and even has a dedicated website.
The meme has resonated with the many people who wonder just much money it is viable for the Fed to print. But it has gained special resonance with one sub-culture in particular: longtime Bitcoin believers who see the Fed’s latest intervention as further proof that monetary policy has spun out of control.
Among them is Erik Voorhees, a Denver-based cryptocurrency entrepreneur who has advocated for Bitcoin for nearly a decade.
“I approach it from the basic economic concept that printing money doesn’t create wealth. Printing money is an illusion of wealth,” says Voorhees. “In 10 or … Read More