During the time of the global pandemic, lawmakers all over the world are worried about the dwindling economy as they continue to announce stimulus packages for companies. US FED took a step further and announced unlimited quantitative easing to fight the economic impact of coronavirus pandemic.
US President Donald Trump hints markets will open soon.
US President Donald Trump recently hinted that he wants to open markets soon to fight the economic impact of the coronavirus pandemic. However, health experts do not agree with the president as allowing businesses to operate in the midst of pandemic could make the situation even worse. The US is not the only country that has been announcing stimulus packages to revive the economy. Canada and other European countries are also doing the same thing.
How will bitcoin react to unlimited quantitative easing?
One of the reasons why bitcoin is immune to hyperinflation is that it has a limited supply of coins, which is 21 million. There will only be 21 million bitcoins in existence. On the other hand, FED can print an unlimited amount of dollars from thin air. The long-term impact of this unlimited quantitative easing on bitcoin will be positive.