View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Special Focus
  2. Covid-19
August 5, 2020

How bitcoin could ease US budget deficit

By Paul Dennis

5 August

The US recorded the largest budget deficit in its history in June owing to the stimulus packages released to manage the impact of the Covid-19 pandemic.

Jon Matonis, chief economist at Cypherpunk Holdings, shared an article on how the US printed more money than in the first two centuries since its founding.

The US had a budget deficit of $864bn in June, which is larger than the total debt incurred between 1776 and the end of 1979.

The article notes that the government should tackle the deficit by moving away from paper money to Bitcoin, as there is no inflation or hyperinflation associated with the cryptocurrency.

A decentralised financial structure in which everyone can participate at a very low cost is needed.

In other news, new lockdown restrictions imposed in Melbourne are expected to prolong Australia’s recession until the end of the year.

Australia recorded two consecutive quarters of negative growth and the fresh lockdowns may lead to another quarter of negative growth.

Read more

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. Key drug pipeline and competitive landscape changes based on the latest clinical activity, sent every Tuesday. Curated analysis and data-driven insights on clinical trials strategy and operations, sent every Thursday. The pharmaceutical industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy


Thank you for subscribing to Clinical Trials Arena