$1.9 trillion stimulus passes senate

[Bergkampsballs]

So the $1.9 trillion stimulus bill has passed the senate and is now nailed on to be signed off by Biden on 14th March.

I was wondering what effect you think this will have on Bitcoin over the coming days, weeks, months and even years? It doesn't seem to have made a huge impact straight away, I guess this is because people were expecting it to happen anyway but surely as the stimulus starts to take effect over the next few months, inflation is going to become a huge problem for any individuals and companies who happen to be sitting on piles of cash. Will the government be able to stop inflation from running out of control or are Bitcoin and crypto holders in for the treat of their lives?

https://eu.usatoday.com/story/news/politics/2021/03/06/bidens-covid-stimulus-bill-passes-senate-legislation-heads-house/6886446002/

[20kevin20]

The impact won't be seen now. It'll be seen after the crisis is gone. The money printer can't run continuously without consequences, that's for sure.

On Bitcoin, the impact it might have is that BTC's price will probably rise as soon as the money starts losing purchasing power. That is if people treat Bitcoin as a safe haven and hold on to it for hard times. If USD loses purchasing power and hyperinflation (because I'm pretty sure pumping this many trillions of dollars leads to it) will make all prices go up, together with BTC's. By how much or when.. that's uncertain.

[coolcoinz]

The impact won't be seen now. It'll be seen after the crisis is gone.

It depends. The impact of the stimulus package can be seen on bitcoin right when people get a hold of they freshly printed Dollars. There's a theory, backed by surveys, according to which a large part of stimulus giveaway to end on Bitcoin exchanges. We'll see how it goes but if I were a person who has enough money to go by, I wouldn't hold stimulus under the mattress but try to invest it. Some of the poorest will probably spend it, but the middle class is going to go for stocks, gold and BTC.

[Coyster]

Will the government be able to stop inflation from running out of control or are Bitcoin and crypto holders in for the treat of their lives?

The government I'm pretty sure will be unable to keep the 'upcoming' inflation in check, they can't possibly print this much money without any consequences in the future, their economy will of course feel the brunt of the activities of the money printer, but then on its impact on Bitcoin and it's hodlers, i think people will have to understand that Bitcoin is a hedge to their devaluing Fiat currency, which thus could make more people put their money in the network, and that could cause the price of Bitcoin to appreciate.

[passwordnow]

Will the government be able to stop inflation from running out of control or are Bitcoin and crypto holders in for the treat of their lives?

They can't stop inflation, with all of that stimulus that has been made? they can only utilize and minimize it along its way but to completely stop it, they can't.
Whilst, bitcoin holders, we're also investors and we're defeating inflation through holding this asset and that's why others have come to understand that instead of using all that they receive from the stimulus, they invest a portion of it.

[Twentyonepaylots]

The printing of more money can be beneficial in the short term especially for those who literally have no way of earning amidst the pandemic, and provided that the money comes back into circulation, inflation can be prevented, but millions of Americans aren't into your typical 9-5 anymore, realizing how fickle and how fragile the concept is in pandemics like this. So, they will either store the money in a bank, or invest it in stocks, bonds, or crypto. Either way if more and more people does this, the country is on its way to economic collapse.

[nelson4lov]

So the $1.9 trillion stimulus bill has passed the senate and is now nailed on to be signed off by Biden on 14th March.

I was wondering what effect you think this will have on Bitcoin over the coming days, weeks, months and even years? It doesn't seem to have made a huge impact straight away, I guess this is because people were expecting it to happen anyway but surely as the stimulus starts to take effect over the next few months, inflation is going to become a huge problem for any individuals and companies who happen to be sitting on piles of cash. Will the government be able to stop inflation from running out of control or are Bitcoin and crypto holders in for the treat of their lives?

https://eu.usatoday.com/story/news/politics/2021/03/06/bidens-covid-stimulus-bill-passes-senate-legislation-heads-house/6886446002/

It's a bullish news for the crypto community. A really big one at that. I remembered last year during the times when covid-19 was biting hard and the covid-19 relief bill signed into effect, I still recall the effect it had on the crypto market. So I want to believe that we'll see a similar effect this time as well. Let's not forget that interests in cryptocurrencies have more than doubled between that time and now so it's more than likely that majority of those funds will be channeled into various crypto projects especially Bitcoin.

[thecodebear]

Short term good for Bitcoin as you'll see a lot of allotments of $1400 being deposited on crypto exchanges when the money starts going out. It'll also of course help out the economy which means more jobs coming back which means more people doing well nearer in the future which is of course good for all asset classes.

Medium term good for Bitcoin as it'll push more institutions into Bitcoin to protect against the perception of the dollar's value being inflated away.

[decodx]

Short term good for Bitcoin as you'll see a lot of allotments of $1400 being deposited on crypto exchanges when the money starts going out. It'll also of course help out the economy which means more jobs coming back which means more people doing well nearer in the future which is of course good for all asset classes.

Medium term good for Bitcoin as it'll push more institutions into Bitcoin to protect against the perception of the dollar's value being inflated away.

Long term good for Bitcoin as more people will realise how great Bitcoin is and the number of corporations will see the value as well and buy in to keep up with the market. Also if global financial markets break down and central banks are unable to keep up, bitcoin is the only money to survive this.

[DapanasFruit]

The more fiat money to be circulating on the economy, the more activities that can be stimulated hence there can be a little uptick of growth in many good areas. As to cryptocurrency, there is a good chance that a little percentage of this money from the government will eventually end up in cryptocurrencies especially Bitcoin. As to the long-term effect, well I am not good at that so I am just leaving to the experts of this forum.

[TravelMug]

This is a good gauge:

https://www.bitcoinstimulus.net/

And as the new stimulus package will obviously weaken the US dollar more, average joe to investors will go look for assets that can they can hedge like bitcoin and gold. So this is good news for us, and we will see the correlation very clearly in the next couple of months.

[Sithara007]

Democrats doing what they are famous for. Printing banknotes like crazy and spending them in a haphazard way. The latest round of stimulus has hardly anything to do with the pandemic. It is a politically motivated measure that makes sure that the vast majority of the funding goes to blue states and inner city areas that have supported the democrats. Anyway, big spending should be good news for the Bitcoiners. And the market has reacted in a positive way. Bitcoin prices are up by 2% in the last 24 hours.

[zanezane]

Democrats doing what they are famous for. Printing banknotes like crazy and spending them in a haphazard way. The latest round of stimulus has hardly anything to do with the pandemic. It is a politically motivated measure that makes sure that the vast majority of the funding goes to blue states and inner city areas that have supported the democrats. Anyway, big spending should be good news for the Bitcoiners. And the market has reacted in a positive way. Bitcoin prices are up by 2% in the last 24 hours.

If you can survive without the stimulus, you can hedge yourself in a potential crash by investing that stimulus in bitcoin which will definitely grow as evident as the last time the people did buy bitcoin with their stimulus. I have to save more bitcoin because once this stimulus rolls out, the prices are going to be running high again.

[LogitechMouse]

~

This is the biggest stimulus package the US has ever done this pandemic season. If I'm not mistake, people will receive at least $1400 and will be distributed in April 2021.

Will this affect Bitcoin?? In some ways yes. One big effect is that it might push the price of it upwards unless, these people will choose to invest a big portion of their money into Bitcoin than spending it into another things. On the other hand, this will make the purchasing power of USD even lower. Can this event beneficial to Bitcoin and crypto in general?? Yes only if they will invest it unto it but aside from that, it will not benefit at all.

[larus]

When this money be paid to people? I need to know when we will see next pump

[pooya87]

Will the government be able to stop inflation from running out of control or are Bitcoin and crypto holders in for the treat of their lives?

Inflation is not something that can be controlled when a ridiculous amount of money has been being printed!
Crypto holders are not in any treat since altcoins get dumped all the time in long term. Bitcoin holders I wouldn't say are in for a treat either because during inflation when you hold something that goes up in price would only act as a way to keep the same purchasing power not make any profit. When bitcoin goes up in value more than inflation rate that is mostly because of its adoption so the profit has nothing to do with the money printing policies.

[Rruchi man]

So the $1.9 trillion stimulus bill has passed the senate and is now nailed on to be signed off by Biden on 14th March.

We hope this stimulus package doesn't become a target for internet fraudsters and cyber criminals that will want to hijack its disbursement. The government should do more to ensure proper verification before disbursement to any individual.

[Bergkampsballs]

Will the government be able to stop inflation from running out of control or are Bitcoin and crypto holders in for the treat of their lives?

Inflation is not something that can be controlled when a ridiculous amount of money has been being printed!
Crypto holders are not in any treat since altcoins get dumped all the time in long term. Bitcoin holders I wouldn't say are in for a treat either because during inflation when you hold something that goes up in price would only act as a way to keep the same purchasing power not make any profit. When bitcoin goes up in value more than inflation rate that is mostly because of its adoption so the profit has nothing to do with the money printing policies.

I think you might be missing the bigger picture here. Some people will invest their $1400 stimulus funds into Bitcoin but many wont, however that's not where the big money will come from. The fact that the stimulus money will devalue the dollar will encourage people and corporations who already have a lot of money to find alternative investments such as stocks, gold and cryptocurrencies. At the moment Bitcoin is a strong contender and for many investors and corporations that were considering investing in Bitcoin anyway, this could be the event that pushes them over the line.

[slaman29]

So the $1.9 trillion stimulus bill has passed the senate and is now nailed on to be signed off by Biden on 14th March.

I was wondering what effect you think this will have on Bitcoin over the coming days, weeks, months and even years? It doesn't seem to have made a huge impact straight away, I guess this is because people were expecting it to happen anyway but surely as the stimulus starts to take effect over the next few months, inflation is going to become a huge problem for any individuals and companies who happen to be sitting on piles of cash. Will the government be able to stop inflation from running out of control or are Bitcoin and crypto holders in for the treat of their lives?

https://eu.usatoday.com/story/news/politics/2021/03/06/bidens-covid-stimulus-bill-passes-senate-legislation-heads-house/6886446002/

Will he sign it or is there any chance this stimulus isn't going to happen? I mean if a few thousand or hundred dollars in 2020 passed into Coinbase and made Bitcoin go up like crazy, I wonder how much this amount of money will do to BTC price. Inflation is already bad for US dollar, guess now we see it go down like crazy?

[cryptoperkele]

Some of the people will put in in bitcoin for sure, but the marketcap is already so high i don't see it having a huge effect unless something else happens that makes things escalate and more money flowing in. Weirderst part is that it could affect negatively on the whole purpose of stimulus if btc goes down after people buy.