Bitcoin Price Rises in Tandem With Central Banks' Balance Sheets

Bitcoin is becoming investors' favored escape from fiat misery and punitive economic policy - and central banks are only helping.

In a tweet on Aug. 11, popular commentator Holger Zschaepitz described Bitcoin as the "New darling" for those seeking shelter from hurdles such as negative interest rates.

As the money printing expanded, so did Bitcoin's value, Zschaepitz noted.

"Bitcoin is the new darling among investors in time of negative real rates and as the price of cryptocurrency follows the combined balance sheet of Central Banks," he summarized.

Zschaepitz linked to favorable Bitcoin exposure in German mass media outlet Die Welt, which highlighted belief in Bitcoin over gold and silver by Robert Kiyosaki, author of "Rich Dad Poor Dad.".

Kiyosaki is famous for his Bitcoin support, continuing elsewhere last week as the largest cryptocurrency topped $12,000.

"The sleeper is Bitcoin. I suspect it is about to become the fastest horse."

Last week, Raoul Pal, CEO and founder of Real Vision, highlighted that Bitcoin was the only asset to outperform central bank balance sheet rises.

The relationship with ballooning central bank debt thus shows Bitcoin delivering on its original premise - to shield users from risk engineered by the parties in control of the currency.

As Cointelegraph has often reported, the release of the Bitcoin whitepaper coincided with a now-infamous article in the United Kingdom newspaper, The Times, which contained a front-page headline "Chancellor on Brink of Second Bailout for Banks."