Bitcoin investors keen to profit from Joe Biden’s presidency have received another bullish update from the oval office: a $3 trillion government spending package.
The cash injections, coupled with the ongoing money supply from the Federal Reserve, expect to increase inflation, lifting appeal for hedging assets like bitcoin.
More tailwinds for the cryptocurrency could appear as the US central bank remains committed to tolerating inflation above 2 percent, meaning it would not introduce any rate hikes to contain it.