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U.S. President Donald Trump said Thursday he’s prepared to increase his $1.8 trillion stimulus offer if it helps reach a deal with the Democrat-led House of Representatives, Reuters reported.
House Democrats have been seeking a $2.2 trillion package.
Trump said Thursday on Fox Business Network there’s still a chance a stimulus package can be passed before the presidential election, but those chances are fading, Reuters reported.
The president’s comments may rankle some in the Republican-led Senate who had objected to the size of Trump’s current offer.
Why this matters to crypto: Bitcoin (BTC) prices have been buoyed this year as investors bet that trillions of dollars of government and central bank spending around the world in response to the coronavirus-induced economic slowdown will inevitably result in inflation, and therefore be positive for the cryptocurrency.
As such, if a stimulus deal is reached, BTC may rise further.