The Coronovirus pandemic has resulted in the American economy crashing to to a dead stop. Most people have taken the stay in place orders seriously and have been staying home for the most part. The American governments reaction to this was to unveil a 2 Trillion dollar stimulus package. Now on the surface this seems to most people like something that had to be done. The government needed to do something. They couldn't just sit back and do nothing.
I understand the urge people feel to end their discomfort or pain and the reaction to do "something". Unfortunately for the long term this may result in more pain and discomfort down the road. Now I am not an economist by any stretch of the imagination but my limited economic knowledge tells me that the only way to come up with this money is to either borrow it or print it. My opinion is they will just print it. Now your probably saying so what, they always done that , why is this god for crypto.
The answer is, this is exactly what Bitcoin was designed to avoid. There will only ever be 21 million Bitcoin. Do you realize that for you to be in the top 1% of Bitcoin holders you only need to have 0.28 Bitcoin! Contrary to any fiat that exists you cannot just print more of it. You cant just go and create more. There is a finite supply!
As time goes by more and more people will be running to crypto because they will realize that their dollars don't go as far as they used to. Bitcoin will continue to rise in value and crypto in general will become more mainstream. Check out this article from cointelegraph from 3/23/2020 referencing a 183% increase in searching for BTC in the thirty days prior to its publishing. People are waking up. they know its a better way.
https://cointelegraph.com/news/baidu-and-google-trends-see-increased-interest-in-purchasing-bitcoin
Again I am not an economist. I just a hack, crytpto investor from fly over country in America. What the hell do I know? Well I knwo I am putting my money where my mouth is an I believe the stimulus package just recently enacted is going to be just one more thing that will drive more and more people to crypto. Here's to everyone reading this hitting that 1%!
