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Benzinga

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Samyuktha Sriram

Fed Prices Eggs With Bitcoin To Show Instability Against US Dollar

US Federal Reserve Bitcoin United States Alex Thorn Crypto St. Louis Fed

The U.S. Federal Reserve published a blog pricing eggs with Bitcoin (CRYPTO: BTC) to demonstrate the 14-month volatility of the leading digital asset against the U.S. dollar. However, the crypto community was quick to poke holes in the Fed’s assumptions and the manner in which it presented the data.

What Happened: In a blog post on Monday, the St. Louis Fed shared a graph of eggs priced in satoshis — the smallest subunit of Bitcoin — to show the price volatility associated with the digital currency.

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One subscription that gives you access to news from hundreds of sites

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TSA quietly reverses benefit for travelers at some US airports just weeks after it was announced

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