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$BTC $1T+ Stimulus ≠ Another 2020
Trump’s proposed $5,000 dividend could cost over $1T if approved. �
Reuters +1
But 2020 wasn’t just stimulus.
QE + near-zero rates + falling real yields + weaker dollar created the liquidity regime that accelerated $BTC .
Today, the key question is:
Will new fiscal liquidity reach risk assets — or be absorbed by higher yields and inflation?
For BTC, liquidity matters more than the headline.
#BTC #Macro #Crypto