How Trumponomics drove Bitcoin to $1M!!!
2024-11-14

As Mr Trump returns to the White House, his economic policies and fiscal strategy have attracted global attention. As well as powering the reshoring of domestic industry, this economic revolution is likely to accelerate the rise in the value of digital assets such as bitcoin.

At the heart of Trumpomics is a push for an "America First plan" that includes tax breaks and subsidies to lure vital industries such as semiconductors and car manufacturing back to the US. Different from the neoliberal policies of the past, this strategy focuses more on government intervention to promote the development of the real economy. The Trump administration has also proposed boosting overall nominal GDP by encouraging business expansion and household consumption through cheap loans and bank credit support.

The fiscal stimulus underlying this policy has had a direct impact on bitcoin. "Stimulus checks" during the pandemic a few years ago showed that a direct flow of money to ordinary people was effective in raising the velocity of money and boosting economic growth. If similar stimulus measures are implemented further in the future, the price of bitcoin as a safe haven against inflation and fiat currency depreciation could exceed $1M!