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/At this point disaster is inevitable so I have stopped worrying about what governments do and worry about what I can do to protect myself when the crisis finally looms on the horizon and politicians cannot kick the can anymore, even if we do not see an immediate effect this is going to help the price of bitcoin over the long term and even more importantly this is going to help its credibility among the rest of the population.
When inflation cannot be disguised anymore and we see unemployment and an important decrease on the purchasing power of their fiat currencies people will try to use bitcoin as a safe haven, at that point we may even see governments trying to make it illegal to hold bitcoin, but it will be too late to have any meaningful effect on the actions of the population at that point.