{"id":36076,"date":"2021-02-09T10:15:30","date_gmt":"2021-02-09T08:15:30","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=36076"},"modified":"2025-08-29T04:30:52","modified_gmt":"2025-08-29T01:30:52","slug":"brian-brooks-says-teslas-bitcoin-investment-is-both-thrilling-and-alarming","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/brian-brooks-says-teslas-bitcoin-investment-is-both-thrilling-and-alarming\/","title":{"rendered":"Brian Brooks Says Tesla&#8217;s Bitcoin Investment Is Both Thrilling and Alarming"},"content":{"rendered":"<p>The former head of the Office of the Comptroller of the Currency (OCC) within the U.S. Treasury, Brian Brooks, commented on Elon Musk&#8217;s company&#8217;s purchase of the first cryptocurrency in an interview with <a href=\"https:\/\/www.coindesk.com\/ex-occ-chief-brooks-calls-teslas-bitcoin-buy-a-bit-scary-news-for-rest-of-world\" target=\"_blank\" rel=\"noopener\">CoinDesk<\/a><!--more--><\/p>\n<blockquote>\n<p>\u201cFor those investing in Bitcoin, this is fantastic news. For those not involved, it looks somewhat alarming,\u201d said the former official.<\/p>\n<\/blockquote>\n<p>Brooks noted that after the implementation of Biden&#8217;s announced new stimulus package, the pace of money-supply growth would accelerate from 25% at the onset of the pandemic to 40%. This is what leads companies like <a href=\"https:\/\/u1f987.com\/en\/news\/elon-musks-tesla-invested-1-5-billion-in-bitcoin-the-assets-price-rose-to-44800\">Tesla<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/microstrategy-spends-another-10-million-on-bitcoin\">MicroStrategy<\/a> to place reserves in the first cryptocurrency and concerns those tied to the traditional economy.<\/p>\n<blockquote>\n<p>\u201cThis is madness, right? Inflation works like this: the more assets you have, the less value they possess. This explains why many institutions want to hold Bitcoin in reserves. Potentially this is a much more stable store of value in the long term,\u201d he explained.<\/p>\n<\/blockquote>\n<p>In the interview, Brooks did not disclose his plans after <a href=\"https:\/\/u1f987.com\/en\/news\/brian-brooks-resigns-as-head-of-the-occ-blake-paulson-to-become-acting-comptroller-of-the-currency\">leaving the OCC<\/a> on January 14.<\/p>\n<p>Earlier, former Ripple adviser <a href=\"https:\/\/u1f987.com\/en\/news\/media-biden-could-appoint-former-ripple-adviser-to-head-the-occ\">Michael Barr<\/a> was floated as a potential candidate to head this agency.<\/p>\n<p>Follow ForkLog news on the <a href=\"https:\/\/www.facebook.com\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The former head of the Office of the Comptroller of the Currency (OCC) within the U.S. Treasury commented on Elon Musk&#8217;s company&#8217;s purchase of the first cryptocurrency in an interview with CoinDesk.<\/p>\n","protected":false},"author":1,"featured_media":36077,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1138,1319],"class_list":["post-36076","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-opinions","tag-tesla"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36076","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=36076"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36076\/revisions"}],"predecessor-version":[{"id":36078,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36076\/revisions\/36078"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/36077"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=36076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=36076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=36076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}