They have been good moments for the financial markets, including the of cryptocurrencies. Therefore, the political agreement to implement a stimulus plan in the united States, prompted the New York stock exchange, and next to it, the prices of Bitcoin and gold. However, according to Changpeng Zhao in our Tweet of the day, it is possible that this stimulus plan harms the us dollar, making grow the market cap of BTC up to $ 2 trillion:
As we get used to talk about Trillions, a modest $2 trillion market cap of #bitcoin will put 1 BTC at $100,000. Not such a hard to imagine number now, right?As most BTC are not for sell (HODLers), we only need a small portion of that $2t to buy to reach it.— CZ Binance ??? (@cz_binance) March 25, 2020
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A boost to the market capitalization of Bitcoin
It is a feast day for financial markets around the world. Well, after weeks of falling almost daily on the major exchanges, the united States Congress has approved a stimulus plan for the national economy. Committing $ 2 billion to avoid a total collapse of the american economy. However, for many analysts, the optimism in the world markets is rushed. Thus, far from allowing the american economy to keep growing during the crisis of the Coronavirus. An increase of such magnitude in the liquidity of the dollar would lead to a depreciation bulk of the currency. Affecting to turn to Bitcoin and to the cryptocurrencies. Among those who held this opinion, one of the main figures is Changpeng Zhao, the CEO of Binance. As soon as you made public the news of the agreement reached in Washington, released a message through their Twitter account. Commented on the possible arrival of the market capitalization of Bitcoin up to $ 2 trillion. A goal that it would be difficult to achieve, according to Zhao. “While we are accustomed to speak of billions , a modest market capitalization of 2 trillion dollars worth of Bitcoin would put 1 BTC in $ 100,000. It is not a number so difficult to imagine now, isn’t it?“. As the majority of Bitcoin are not for sale (HODLers), we only need to buy a small portion of those $2t to get there.“ With this tweet, Changpeng Zhao would be betting that, an increase so large in monetary liquidity will hit its national currency. So, as BTC starts to gain momentum before the alleged fall of the dollar, it will not be difficult for the market capitalization of Bitcoin to reach $ 2 trillion. Finally, we ask you readers what they think about the government’s efforts, particularly the impact they will have on Bitcoin.