The upcoming Biden administration plan to flood the US economy with trillions of dollars could usher in the next stage of the Bitcoin (BTC) boom as more investors seek refuge from the crumbling US dollar.
Arlington-based news service Axios said on Thursday that Joe Biden has asked Congress to provide Americans $ 2,000 in stimulus payments to help offset the economic losses of Covid-19. The future president also proposed a $ 3 trillion tax and infrastructure package as part of his Build Back Better program.
Biden doubled his call for more direct aid to Americans after Friday's report of disappointing jobs, which showed 140,000 job losses in December.
Even Donald Trump, a Republican, was no stranger to massive government funding. Under his leadership, the United States passed the historic $ 2 trillion stimulus note in March. Last month, Trump also signed a $ 900 billion relief package that would pave the way for $ 600 stimulus checks.
The federal government's policy to boost inflation coincided with the record intervention of the Federal Reserve, which allocated trillions of dollars in 2020 to combat the liquidity crisis and keep current interest rates under control.
