Bitcoin Soars After Donald Trump Signs Covid-19 Relief and Spending Bill

The price of Bitcoin rallied to the record high at $28,334 after Donald Trump signed the latest stimulus bill on Sunday. This bull run is triggered by the bill being signed as expected after a swinging movement ranged between $22,000 to $24,000. Furthermore, gold’s price soared along with Bitcoin simultaneously after the news. Therefore, it is expected that Bitcoin will benefit from the demand for an inflation hedging strategy.

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