Joe Biden - President-elect of the United States, is looking to launch a bailout package up to trillions of dollars, whether this will trigger the next phase of growth of Bitcoin?
Before the time of preparing to take office, the new US President Joe Biden has set many very ambitious goals.
"This bailout package will be very large, maybe trillions of dollars," he said in a speech in the state of Delaware.
In the US, as of December 12, there have been about 2020 jobs lost, unemployment rate increased during the pandemic. This figure shows that the US economy is in a state of alarm, not to mention the number of COVID-140,000 infections is increasing every day in the US.
"The situation will get worse and harder to handle in the future if we don't act quickly," Mr. Biden said.
So Mr. Biden is calling on the Government to launch new stimulus packages for the US economy, including packages to support the people, each American will receive a cash subsidy of up to $ 2,000.
Senate Minority Leader Chuck Schumer said "cash aid to $ 2.000 per person will be Biden's first target when Democrats take control of the Senate."
In a speech on Jan. 8, Mr. Biden said the $ 1 billion bailout that Trump signed in mid-December was just the beginning, implying that a larger bailout package would be released in the future when he came to power.
In 2021 the wave of stimulus could be a powerful catalyst for Bitcoin, as more and more investors turn to Bitcoin as a haven.
Bitcoin's digital gold story is one of the biggest catalysts behind institutional change for BTC. This story helped drive Bitcoin's over 300% gain in 2020 and more than doubled in price over the past three weeks.
Bitcoin's bullish trend is likely to be sustained in 2021 as the dollar's position continues to erode.
Even JPMorgan Chase has also admitted: "Bitcoin is taking market share from Gold". At Bitcoin's current price of over $ 40,000, a Bitcoin is now worth more than a 22-ounce bar of gold.
All of Bitcoin's remarkable achievements over the past 11 years are the result of the wave of institutional investment in the Crypto market. Institutions are accumulating Bitcoin for a more obvious purpose, long-term holding.
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