RATE Group | Trillions in Coronavirus Stimulus Brings Out the Bitcoin Bulls
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Trillions in Coronavirus Stimulus Brings Out the Bitcoin Bulls

26 Apr Trillions in Coronavirus Stimulus Brings Out the Bitcoin Bulls

Posted at 20:09h in Cryptocurrency News by

“It’s exactly why bitcoin (BTC) was created,” Michael Novogratz, CEO of the cryptocurrency-focused investment firm Galaxy Digital, told CNBC last week. 

It’s a common refrain heard these days from bitcoin bulls: The U.S. dollar and other currencies will eventually be debased by the injections of trillions of dollars of coronavirus-related aid and monetary stimulus by governments and central banks. That should, theoretically, strengthen the case for bitcoin, the oldest and largest cryptocurrency, as a hedge against inflation. 

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Such predictions might eventually come true, but for now bitcoin investors are stuck in a holding pattern: The…

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