““The new inflow of cash could indirectly push up the price of bitcoin, particularly in the long term perspective,” one analyst said.”, — write: www.coindesk.com
- Bitcoin’s price has been positively correlated with the size of the People’s Bank of China’s (PBOC) balance sheet over the past eight years.
- The PBOC is considering a massive stimulus of up to 1 trillion yuan ($142 billion) to bolster its economy, leading to a surge in Asian stock markets, including a notable rise in the CSI 300 Index.
- Some say this stimulus could indirectly benefit bitcoin by potentially increasing investments in blockchain and crypto-related ventures.
Edited by Omkar Godbole.
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