Nancy Pelosi, Speaker of the US House of Representatives, proposed a second stimulus package to support the US economy, which has been devastated by the coronavirus pandemic and has recently affected the president of the United States. The second stimulus, costing an estimated $2.4 Trillion dollars, follows a $2.2 Trillion dollar stimulus package which was passed earlier this year.
Mark Cuban wants an expiration date on stimulus checks
U.S. billionaire Mark Cuban wants all American households to receive a $1,000 dollar stimulus check every two weeks for the next two months — and they must use that money within 10 days to promote spending. Cuban argues that when consumers are forced to spend, it helps businesses stay open and the economy recover from the effects of the Covid-19 pandemic, and further stated that "without mandating the money be spent within 10 days of receipt, many Americans will save it."
Stephen Roach, an American economist and former Chairman of Morgan Stanley Asia said on Sunday that he believes the U.S. dollar will plunge by as much as 35% next year.
Roach noted this past June "Although cryptocurrencies and gold should benefit from dollar weakness, these markets are too small to absorb major adjustments in world foreign-exchange markets where daily turnover runs around $6.6 trillion."
US Federal Reserve actively working on digital dollar
This potential digital dollar would allow the central bank to directly issue the digital currency into end users' wallets using central-bank-facilitated services, citing "quicker and more ubiquitous payments in times of emergency" as a motivating factor. The President of the Federal Reserve Bank of Cleveland, Loretta Mester, describes the digital cash as "just like the physical currency issued by central banks today" but "potentially without the anonymity of physical currency."
Bitcoin posts record consecutive streak above $10K
The Bitcoin network has achieved a new milestone this week, as the price of 1 Bitcoin has remained above $10,000 for a record 67 consecutive days. The last time that the price of Bitcoin stayed above $10K for this long was in December of 2017, when the previous record of 62 days was set.
Bitcoin Cash preferred digital asset for loading BitPay’s new Mastercard
US crypto-holders looking to convert their BTC and BCH assets into everyday spending power, the new BitPay Mastercard offers a bold glimpse into the near future. The updated BitPay card enables users to load up to $10k per day and withdraw up to $6k per day at ATMs while avoiding conversion or load fees. The BitPay Card is especially popular among the bitcoin cash community as statistics show BCH is the top alternative to BTC among the company’s users.
Want to change how you receive emails from us?You can update your preferencesorunsubscribe. Saint Bitts, LLC, 858 Zenway Blvd, P.O. Box 1830, Frigate Bay, Saint Kitts and Nevis
