U.S. government spending may lead to upward Bitcoin (BTC) prices, according to Gemini crypto exchange co-founder and CEO, Tyler Winklevoss.<\/p>\n
\"The Fed continues to set the stage for bitcoin's next bull run,\" Winklevoss said in a July 22 tweet, which included an article link on the government agency's discussions of further stimulus spending.<\/p>\n
As a decentralized borderless digital asset away from government control, Bitcoin holds as a potential hedge to mainstream markets and national dollars a point often stressed by a number of crypto industry participants.<\/p>\n
Bitcoin holds a 21 million coin maximum supply, protecting the asset against value dilution. \"When money printer go brrrr and inflate the stonks market, its time to Bitcoin,\" Winkelvoss said in a July 18 tweet, referring to U.S. money printing resulting in a rising stock market, while giving the nod to Bitcoin as an alternative.<\/p>\n
Since March, the U.S. government has beefed up its monetary activity, attempting to prop up a struggling economy the result of to COVID-19 preventions measures. Such efforts have included a $2 trillion stimulus package, which, in part, dished out essentially free money to U.S. citizens, depending on income levels.<\/p>\n
With current stimulus money reaching its end soon, the government must assess the situation, possibly issuing further relief capital, as mentioned by Morgan Creek Digital co-founder Anthony Pompliano in a recent YouTube livestream. The financial expert mentioned U.S. dollar inflation over the last several decades, noting the importance of exiting cash into various assets, including Bitcoin.<\/p>\n
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