By Tobi Loba
Co-founder of ZeroBlock, Dan Hedl has recently averred that Bitcoin (BTC), the first and largest cryptocurrency could reach $100,000 and $2 trillion market cap with the US $6 trillion stimulus package.
Dan made this known after a 6 trillion stimulus package was announced in a press conference on 24th March 2020 by the White House economic advisor Larry Kudlow.
Dan Hedl shared this, “$6,000,000,000,000 stimulus package for just one country. And you don’t think Bitcoin can reach a $2T market cap? ($100k/coin).”
$6,000,000,000,000 stimulus package for just one country.
And you don't think Bitcoin can reach a $2T market cap? ($100k/coin)
🤔
— Dan Held (@danheld) March 24, 2020
Stimulus Package by the US and Some Other Countries
The present situation initiated by the widespread of coronavirus has forced many countries into unthinkable actions.
Canada has announced a CAD$82 billion stimulus package, the European Central Bank improved its large-scale asset purchase operations, while Hong Kong promised to give its citizens HK$10,000 each.
Some other countries that are seriously plagued with the coronavirus also have allocated revenue to support their citizens in this difficult time. But the United States has really gone big in its stimulus package.
As aforementioned, the White House economic advisor Larry Kudlow announced in a press conference that United States Government’s stimulus package will come to roughly $6 trillion.
According to reports, $2 trillion of this sum will be direct cash payments to businesses, and individuals who are suffering under the stress of the coronavirus outbreak, while the remainder is for the Federal Reserve.
According to Nick Chong, the $6 trillion is the same as one-third of America’s GDP and 130 percent of the Federal Reserve’s balance sheet, which is enough for $850 for each human being on earth or 900 million Bitcoin if it exists.
Here's some perspective on the astronomical number that is $6 trillion.
$6 trillion is the same as
– 1/3 of America's GDP
– 130% of the Federal Reserve's balance sheet
– Enough money for $850 for each human being on Earth
– or 900 million BitcoinCrazy.
— Nick Chong (@n1ckchong) March 24, 2020