WhatThe Nearly $2 Trillion Stimulus Package Means For Bitcoin
Well, money printer gonna go “brrrr….” again real soon…Expect to see some of those $1,400 checks to go into Bitcoin and crypto…
What Biden’s $2 Trillion Stimulus Package Means for Bitcoin
“’We believe there is a good chance that at least some of this money will find its way to the flagship cryptocurrency—or perhaps even other altcoins,’ Jason Deane, Bitcoin analyst at Quantum Economics, told Decrypt.
One of the major reasons for this line of thinking is Bitcoin’s appeal as a hedge against inflation. The decline in value of the US Dollar has been good for Bitcoin’s investment case as digital gold, an asset that can’t be devalued by a government stepping in to print more of it.
And since the stimulus package was passed by the Senate on Saturday, Bitcoin’s price has risen again, crossing the $55,000 threshold.”