First Mover: `Blue Wave’ in U.S. Senate Could Mean Flood of Stimulus for Bitcoin

Market Moves Alert readers will recall that First Mover argued in this column last week that next month’s US presidential elections may not matter too much for bitcoin’s price — because trillions of dollars of stimulus money are likely no matter who wins. The scenario “most likely to occur under a Democratic blue wave” is one of “overly easy” fiscal policy, eventually eliciting a response from the Fed, Deutsche Bank Chief International Strategist Alan Ruskin wrote last week in a report.

With nearly $20 trillion pumped into the economy this year by governments and central banks, prices for bitcoin, seen by many investors as a potential hedge against inflation, have surged 60%. Filecoin (FIL): Wild first days of trading in decentralized data-storage company’s tokens end with price around $34 and market cap of $560M, according to CoinGecko, though variations are large across exchanges.

Timeline of Filecoin