After similar efforts from the U.S. Federal Reserve on March 10, the European Central Bank, or ECB, announced a $135 billion stimulus — a number that dwarfs Bitcoin’s (BTC) entire market cap.
The ECB, in an effort to combat struggling markets, decided not to cut interest rates further. Instead, the central bank announced the allocation of 120 billion Euros, or $135.28 USD, to its asset purchase program, a CNBC report detailed on March 12.