Bitcoin Demand Is About To Skyrocket On Massive $2 Trillion Coronavirus Stimulus  

A massive $2 trillion coronavirus stimulus package has been agreed by U.S. president Donald Trump and the Senate.

Bitcoin and crypto, as well as traditional markets, have already been significantly boosted by the historic economic relief package, with almost all assets climbing this week in anticipation of the deal.

The bitcoin price, which has climbed from lows of under $4,000 per bitcoin to around $7,000 in the past two weeks, remains highly volatile—but the bitcoin and cryptocurrency community is convinced the "largest rescue package in American history" will mean a surge in bitcoin and crypto interest.

Full details of the huge coronavirus stimulus package have yet to be released, with some early drafts including proposals for a hotly-anticipated so-called digital dollar, but $350 billion is expected to be set aside for small business loans, $250 billion in unemployment insurance benefits, and $500 billion in loans for distressed companies.

Senior lawmakers have indicated an initial proposal by Republicans for direct cash payments to the tune of $250 billion has been included.

"This legislation is urgently needed to bolster the economy, provide cash injections and liquidity and stabilize financial markets to get us through a difficult and challenging period in the economy facing us right now," said Larry Kudlow, chief economic adviser to the president, adding this is "the single largest main street assistance program in the history of the United States."

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