U.S. President Donald Trump said Thursday he's prepared to increase his $1.8 trillion stimulus offer if it helps reach a deal with the Democrat-led House of Representatives, Reuters reported.
- House Democrats have been seeking a $2.2 trillion package.
- Trump said Thursday on Fox Business Network there's still a chance a stimulus package can be passed before the presidential election, but those chances are fading, Reuters reported.
- The president's comments may rankle some in the Republican-led Senate who had objected to the size of Trump's current offer.
- Why this matters to crypto: 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 economic 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.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.