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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.
Updated Sep 14, 2021, 10:07 a.m. Published Oct 9, 2020, 4:45 p.m. 1 min read
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 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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CNBC reported Tuesday that Musk is discussing a merger between Tesla and SpaceX that would tie his tech empire closer together and instantly create the world’s fifth-largest corporate bitcoin treasury, worth $3.3 billion.
What to know:
- Elon Musk is exploring a potential merger of Tesla and SpaceX, a move that would deepen operational overlap in areas such as power infrastructure and AI-related computing.
- A combined Tesla-SpaceX entity would control about 30,221 bitcoin, worth roughly $3.3 billion, making it the fifth-largest public corporate holder of the cryptocurrency.
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