$1.9 Trillion Stimulus Will Lift Bitcoin And Raise Inequality – Pomp, Brandt, Lummis React

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Last Updated on 28 March 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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Crypto analysts had mixed feelings about the US stimulus package that President Joe Biden’s team was able to get approved in both the house and the senate over the weekend.

Although most agree that the $1,400 stimulus payments being sent to Americans directly were certainly helpful, others fear the whole package would raise inequality.

All around market analysts indicated it would boost the price of goods and services and make sure that people would seek a hedge against dollar deflation all things which are positive for Bitcoin. Only problem is that many poorer Americans would get left behind as they don’t have the means to invest in either the stock market or crypto.

An overview.

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Wall Street predicted that certain goods and services might become more expensive as more money gets pumped in the economy, indicated and explained in an article in MSN.

Top crypto commentator Anthony Pompliano criticized the stimulus package, as he claimed it would leave many Americans poorer in the future.

Pomp said:

Senate just approved another $1.9 trillion to pump asset prices to the moon and push the bottom 45% of Americans with no investable assets further into despair.

Bitcoin, real estate and commodities

Famed technical analyst Peter Brandt agreed that the excessive money printing would only help certain assets, saying:

The devaluation of the purchasing power of the U.S. Dollar $DX_F has only just begun. This is why Bitcoin, real estate, U.S. equities and commodities will continue to trend higher when expressed in USD fiat terms.

Brandt, who has been trading since the 1970s and is well-respected in the investment community, agreed that inequality would rise because of the stimulus.

Lastly, conservative US Senator Cynthia Lummis, a Republican from Wyoming and an ardent Bitcoin supporter, claimed that the Federal Reserve building would only be making a single sound as from now, stating:

Money printer go brrr.

During an interview with Coindesk, she also wondered whether the US politicians were just kicking the can down the road when planning repayment. The seasoned politician stated:

no one I know has a plan to pay back this debt.