Fed President's 'Incredible' Bitcoin Price Prediction Amid Inflation Warning

Federal Reserve president Neel Kashkari issued a controversial response when asked about the Fed putting bitcoin on its balance sheet, likening the cryptocurrency to Beanie Babies and expressing concerns about its lack of legitimate use cases in advanced democracies. Kashkari's comments were described as "incredible" by some, while others pointed out legitimate use cases for bitcoin. The bitcoin price rally has been partly attributed to market expectations of the Fed cutting rates due to the U.S. debt pile, with some predicting that the wider crypto market will benefit from the growing debt.