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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.
STORY CONTINUES BELOW
- 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.
Kevin Reynolds
Kevin Reynolds is editor-in-chief at CoinDesk. Prior to joining the company in mid-2020, Reynolds spent 23 years at Bloomberg, where he won two CEO awards for moving the needle for the entire company and established himself as one of the world's leading experts in real-time financial news. In addition to having done almost every job in the newsroom, Reynolds built, scaled and ran products for every asset class, including First Word, a 250-person global news/analysis service for professional clients, as well as Bloomberg's Speed Desk and the training program that all Bloomberg News hires worldwide are required to take. He also turned around several other operations, including the company's flash headlines desk and was instrumental in the turnaround of Bloomberg's BGOV unit. He shares a patent for a content management system he helped design, is a Certified Scrum Master, and a veteran of the U.S. Marine Corps. He owns bitcoin, ether, polygon and solana.
