US Stimulus Bailout, Bitcoin and Cryptocurrency | Chico Crypto
Welcome to this cryptocurrency video posted by Chico Crypto. In this video, you will learn about the US stimulus package that was just announced and passed through the US senate. This multi-trillion dollar deal is designed to follow the trickle-down effect and help corporations first, small businesses second, and lastly the general public and end consumers.
Direct cash breakdown of US stimulus package March 2020
- $500 billion for distressed corporations
- $367 billion for small to medium-sized businesses
- $250 billion for US citizens
- $250 billion for unemployment insurance
- $150 billion for state and local governments
- $130 billion for hospitals and health care industry
How does the US stimulus affect Bitcoin?
- As the unemployment rate increases the amount that individuals will be getting is only enough for essential needs. The small amount will not be enough for millennials interested in the space to really make any waves in the crypto space.
- Corporations are putting their money back into the financial 1.0 system and into the regular stocks that they have invested in before. The FED is making sure that the US economy and stock markets are stabilized and recovering in the short term. You can see that the corporations are not investing in crypto at this time by looking at 2 exchanges in particular. CME and Bakkt have had significant decreases in volume over the past 30 days with no real bounce back. At the same time, the stock markets such as the Nasdaq have bounced back and recovered losses.