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/I believe that this is good news for cryptocurrencies, as it will provide an opportunity to make another significant jump in prices upwards. As for the money itself, namely the US dollars, this will further aggravate the inflationary situation, which will certainly lead to big problems soon. But as I understand it, without these monetary incentives, everything that I described above can happen much faster and the newly printed dollars should postpone the impending problems, at least for traditional markets.