Cryptocurrencies

How the US $ 1.9 trillion stimulus package could impact Bitcoin (BTC)

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Santa Claus is early in the United States, and he wears the Democrats’ color. The US Senate has approved yet another stimulus package, bitcoiners are looking forward to.


golden bitcoin coin

A new round of check distribution

The US Senate has approved a $ 1.9 trillion stimulus package, a plan previously announced by Joe biden early January 2021.


Americans earning more than $ 75,000 per year will receive direct grants of $ 1,000.

Unemployed Americans will receive $ 300 per week. Couples who earn more than $ 150,000 will receive a check for $ 2,900. The Child Tax Credits will be extended for one year.Subscribe for freeJoin our community of Bitcoin and cryptocurrency enthusiastsEmail * Validate

For those who have lived in a cave

The putting under cover of the economy during the pandemic of 2020, had revealed in broad daylight the weakness of the fiats.

Governments and central banks then decided to run empty the printing press, justifying future inflation, by the need for an aggressive economic stimulus plan.

Bitcoin (BTC) and some altcoins then became for institutions, hedging assets against the inflation of fiats. Each devaluation of the greenback benefited during the BTC, and vice versa.

Companies like MicroStrategy turned to the BTC, to protect their excess cash against the devaluation of fiats.

With the support of institutions, Bitcoin began a bullish rally in October 2020, hitting ATH above $ 58,300 in February 2021.

Bitcoin is trading at $ 51,786 at the time of writing.

The explosion of the Bitcoin is viewed with a dim view by some US lawmakers and regulators.

Janet Yellen keep criticizing Bitcoin in his speeches: a crypto for criminals and money laundering, a speculative asset, an inefficient trading system.

Some elected like Cynthia lummis or Ro Khanna still try to publicly defend Bitcoin and his cadets.

Deeply bankruptcy of the US economy to rebuild one on a better basis? In theory, BTC and cryptos in general are the main beneficiaries of this stimulus package. Even companies that are still hesitant to dive into BTC may ultimately decide to take the plunge. Joe Biden may well be a better president than Donald Trump: the best president who best serves the interests of Bitcoin and the cryptosphere.

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Fashion is good, but blockchain is the future, we agree, right ?! It’s a great opportunity and an evolving sector! On a daily basis, my job is to try to popularize cryptos / blockchains as well as possible, which appear to be far too technical.

DISCLAIM

The comments and opinions expressed in this article are those of the author alone, and should not be considered as investment advice. Do your own research before making any investment decisions.

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