It is true that the recent increase in the price of Bitcoin can be attributed to its perceived value as a hedge against the weaknesses of the global fractional reserve banking system but I think it is important to note that the value of Bitcoin can also be affected by a variety of other factors, including investor sentiment, news events , and regulatory changes.

The statement raises interesting questions as to whether the Federal Reserve and other Bitcoin adversaries have potential plans to hurt Bitcoin or make the banking system appear more reliable. It's common to me that governments and central banks around the world are closely monitoring cryptocurrencies and looking for ways to regulate them.