The COVID-19 pandemic forced the world to hit the brakes on economic activity, and in response, the United States Federal Reserve has introduced trillions of U.S. dollars to pay for the stimulus packages it’s giving away. Naturally, many people have jumped to inflation as the forgone conclusion.
Proponents of Bitcoin (BTC) are excited about the prospect of inflation because the cryptocurrency has been billed as a check against central bank expansion, and such a period of inflation would demonstrate Bitcoin’s value in this regard.