- CryptoBusy explained that a US government shutdown could have a positive effect on Bitcoin.
- The educator said that investors will turn to Bitcoin as protection against inflation.
- The news about the US government shutdown pushed Bitcoin’s price up by 2%.
In a recent tweet, crypto educator CryptoBusy explained how a US government shutdown will push investors toward Bitcoin “as a hedge against economic uncertainty.”
Nov 17 is the new deadline for a US Government shutdown. Why is it positive for #Bitcoin ?– Safe haven asset: Investors may turn to #BTC as a hedge against economic uncertainty and inflation during a shutdown.
– Reduced Regulation: With government agencies temporarily… pic.twitter.com/at7pLAPfCm
— CryptoBusy (@CryptoBusy) October 10, 2023
The BBC reported how the US government prevented a federal shutdown by reaching an agreement on a short-term funding deal on October 1. US President Joe Biden signed the bill into law, ensuring funding until November 17.
The Twitter influencer shared that during a government shutdown, investors might view BTC as a “safe haven asset” against inflation. Moreover, amidst the temporary inactivity of gove…
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