Trillions In Coronavirus Stimulus Bring Out The Bitcoin Bulls

Bitcoin is back over $7000 this morning, right under $7100

Trillions in Coronavirus Stimulus Bring Out the Bitcoin Bulls

“‘It’s exactly why bitcoin (BTC) was created,’ Michael Novogratz, CEO of the cryptocurrency-focused investment firm Galaxy Digital, told CNBC last week.

It’s a common refrain heard these days from bitcoin bulls: The U.S. dollar and other currencies will eventually be debased by the injections of trillions of dollars of coronavirus-related aid and monetary stimulus by governments and central banks. That should, theoretically, strengthen the case for bitcoin, the oldest and largest cryptocurrency, as a hedge against inflation.”

Master Asked on April 6, 2020 in Bitcoin.
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