Curious what's going to cause the next leg up in BTC? More stimulus... and Elon Musk wants to be paid in Bitcoin!
Joe Biden is reportedly going to be asking for more than $3 trillion in new stimulus
Bitcoin has had a massive run, and some are starting to wonder where the next catalyst might come from...
I see a couple possible catalysts on the horizon, with the main one being more stimulus.
Some other potential catalysts include:
- Coinbase going public
- Facebook launching Diem
- Elon Musk being paid in Bitcoin
I am just joking on that last one, or am I...
(Source: https://twitter.com/elonmusk/status/1347958527411724291)
While that doesn't technically mean that Musk will be paid in bitcoin any time soon, it does sound like he likes it a lot better than cash, which is the first step.
Once you take that first step, the next couple steps towards bitcoin become pretty easy.
Back to Biden and more stimulus...
Biden has recently called for those $2k checks that weren't able to get through the Senate just a few weeks ago.
He's also calling for a national minimum wage hike to $15 per hour saying that every American working a full time job should be able to live above the poverty line.
Something that sounds great in theory, but eventually those wage hikes simply get passed on to customers and eventually back to those receiving the benefit as everything else goes up in price as well.
He's also calling for a $3 trillion tax and infrastructure plan.
And now that the Democrats control the Presidency, the House, and the Senate, the odds of these things passing are significantly higher than they were under a split congress.
The end result?
A weaker dollar and higher asset prices.
I wouldn't be in a hurry to sell anything priced in dollars over the next 12-24 months as I suspect we are going to continue to see higher prices basically across the board and a weaker dollar in the medium term.
Stay informed my friends.
-Doc
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Stack assets! Cash is trash.
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Yep, except today. The dollar is flying. Most likely a dead-cat bounce though as more stimulus should push it back down.
@tipu curate
Upvoted 👌 (Mana: 0/10) Liquid rewards.
Thank you for the tip!
@jrcornel, In my opinion all these big players know the Potential Value of something, with that said they know when is the right time to make statements. Stay blessed.
Exactly! As long as the FED is full force printing I am staying LONG
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Same here. Not taking past patterns into account, the macro environment for bitcoin should be ideal for at least the next 12-18 months, possibly 24 months.
I thought that the salary increase was reflected in the products and the consumer only in my country, I understand that it is not only our problem but everyone's.
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200k in 2021?
I've long said something north of $100k this year, I am not sure it will get all the way to $200k, but it is certainly possible.
Until we see full source code for Diem, it's just plan that never got further than skeleton code...
I've seen many open-source projects hold back real source code until launch day to avoid other projects forking it and launching before the "original" project has been launched, but that doesn't mean there can be binary version online on their own servers.
The truth is that an excellent crypto year awaits us with companies as the main catalyst, I can't wait any longer. Everything points to it.
In Venezuela it is curious that they have not printed more money and hyperinflation does not stop, it is curious in the USA that the dollar, despite everything that has happened, maintains its position.
As for Elon, he is very smart to create stimulus towards bitcoin since he can get new clients who own bitcoins.
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