Trump Administration Readying $1.8T Stimulus Proposal: Report
Bitcoin is up 54% this year on speculation that trillion-dollar stimulus efforts by governments and central banks will lead to inflation.
The Trump Administration is preparing a $1.8 trillion coronavirus stimulus proposal, its largest such offer in negotiations with the Democrat-, the Wall Street Journal reported, citing people familiar with the discussions.
- Bitcoin (BTC) prices have been buoyed this year as investors bet that trillions of dollars of government and central bank spending around the world in response to the coronavirus-induced slowdown will inevitably result in inflation, and therefore be positive for the cryptocurrency.
- As such, if a stimulus deal is reached, BTC may rise further.
- In recent trading, BTC was up 1.3% to $11,059. Prices have gained 54% for the year to date.
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