Bitcoin tackles $40,000 as Biden unveils new $6 trillion federal spending budget
The money printer is going brrr in the United States. Bitcoin (BTC) may get a boost to finally clear $40,000 at the expense of the U.S. dollar as United States President Joe Biden's new $6 trillion federal spending budget proposal is unveiled.On May 28, the United States president will announce the massive fiscal policy, the largest since the Second World War, to ensure investments in major infrastructure, education and healthcare projects, reported The New York Times on May 27. Biden reportedly wants the federal government to spend $6 trillion in 2022. He also plans to raise the total....
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Bitcoin held gains, bond yields rose, and gold slipped ahead of President Biden's next big spending push that could total anywhere between $2 trillion and $4 trillion.
As inflation continues to wreak havoc on American wallets, the U.S. dollar’s lack of purchasing power has been affecting nearly every U.S. resident’s spending decisions. On Monday, U.S. president Biden and his administration predicted lower inflation forecasts as officials announced Biden’s proposed budget for the 2023 fiscal year. According to marketwatch.com author Victor Reklaitis, the Biden administration’s inflation forecast “doesn’t look realistic.”
Biden Administration Expects ‘Inflation Will Ease Over the Coming....
A report by Denmark-based Saxo Bank claims bitcoin’s price could rise by 165% to more than $2,000 due to an economic stimulus expected from incoming President Trump. The bullish bitcoin outlook is one of 10 Saxo Bank “Outrageous Predictions for 2017.” Central banks may be about to give up on qualitative easing and negative interest rates, but they are far from being finished with intervention and distorting the allocation of capital and the price of money, according to Steen Jakobsen, CIO. This is not Saxo Bank’s official outlook for 2017, the company noted in the report, but the events....
A Saxo Bank ‘Outrageous Prediction For 2017’ says that the spending binge of a Donald Trump presidency could create ideal conditions for the price of Bitcoin to test $2,000 by next year, as the possibility of the US dollar skyrocketing could force emerging markets to seek alternatives. It projects that the Trump regime’s fiscal spending binge may increase the circa $20 trillion of US national debt and potentially triple the current US budget deficit from approximately $600 bln to $1.2-1.8 trillion or some 6-10 percent of the US’s current $18.6 trillion economy. This may cause inflation to....
The president wants to print like he’s got his own bitcoin bags, and there is no end in sight to the monetary expansion expected to come.