Tyler Winklevoss Brands New Stimulus Injection As Awareness Campaign For Bitcoin
Co-founder of Gemini crypto exchange, Tyler Winklevoss, has labeled the newly proposed stimulus rounds as an awareness campaign for the leading digital asset, Bitcoin.
Since the coronavirus pandemic outbreak, countries around the world have moved swiftly to distribute aid materials and stimulus checks in a bid to revive the economy. In the report that was broadcasted by the Wall Street Journal, the white house is about to approve a new injection of $1.8 trillion stimulus check in a bid to revive the economy. The move is still ongoing despite concerns over the adverse effect of pumping cash into the economy. Prominent financial analysts have lamented the hyperinflation effect as the currency will undergo massive devaluation in the coming weeks after the cash injection.
Co-founder says new injection would increase the popularity of Bitcoin
In his view, Tyler Winklevoss feels the new cash injection will pave Bitcoin’s way to become more popular in the United States of America. In his tweet, the co-founder of the exchange said that the new $1.8 trillion stimulus would create a massive advertisement for Bitcoin when it is eventually pumped into the economy. In his recent posts, Tyler Winklevoss has been advocating for a move against cash injection, citing currency devaluation.
In a particular tweet, the co-founder said that if the American government finally prints new currencies out of thin air, it would make a big case for bitcoin. Notably, only 21 million Bitcoin can ever exist, while the government can continue to print massive amounts of currency as they want. “Breaking: White House is proposing a new $1.8 trillion advertisement campaign for #Bitcoin. To the moon!” Tyler Winklevoss said.
Winklevoss brothers make a case for Bitcoin, reaching $500,000 in the coming years
In a tweet at the beginning of the year, Tyler Winklevoss noted how the leading digital asset, Bitcoin, has gathered a better value than the United States Dollar. With the government moving to print more currencies, the majority have questioned if the currency would ever survive what is coming next. However, the American economy and the people might not feel the brunt just yet, as the dollar still has great dominance over major currencies worldwide.
Meanwhile, major experts have noted that even though it is not obvious, the American dollar has lost a considerable amount of its worth. Tyler Winklevoss and other big names in the crypto scene as said that the community should be ready for a Bitcoin prove explosion when the pandemic finally ends. In a recent tweet, the Winklevoss brothers made a case for Bitcoin, reaching $500,000 in the coming years if the United States government continues with the long-term inflation hedge. “Even before COVID-19, and despite the longest bull run in U.S. economic history, the government was spending money like a drunken sailor, cutting taxes like Crazy Eddie, and printing money like a banana republic,” the brothers said. Presently, Bitcoin has made a considerable price surge as it has moved from above $10,000 to rest around $11,000.
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