The price of bitcoin has soared to its highest level since June, over $70,000, as Elon Musk, the billionaire founder of Tesla, has declared “a financial emergency.”
Because of the Wall Street crypto “revolution,” spearheaded by BlackRock, and the Federal Reserve’s dovish turn, which has produced a “nightmare” situation, the price of bitcoin has risen through 2024.
According to a leak, China may be preparing to unleash a $1.4 trillion bombshell to revive its stagnant economy, which might cause the price of bitcoin to soar. This comes as the Fed and the ECB are accused of secretly declaring war on bitcoin.
If former U.S. President Donald Trump wins next month’s U.S. presidential election, China may sanction an additional 10 trillion yuan ($1.4 trillion) in debt to boost its economy, according to Reuters, which cited unidentified sources.
According to reports, China’s Standing Committee of the National People’s Congress (NPC) may approve the massive, new measures during a meeting scheduled for November 4–8. This comes after a slew of stimulus measures earlier this month.
