Beautiful thesis Lyn, my general question therefore remains, why would the global price of bitcoin go up when it's the US causing the expansion, as opposed to say Egypt's form of QE in Egyptian Pounds...
When the US does QE it generally weakens the dollar relative to other currencies for a period of time. Many countries have dollar-denominated debt, and so a weaker dollar improves their domestic liquidity conditions. Bitcoin’s strongest correlation is with global liquidity conditions, of which the US is the biggest variable, and China second.
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