The lead of the International Monetary Fund (IMF) has requested on the global community to spend as much as they can and then spend more. She acknowledged that this is a “very unusual” policy for the IMF but it is required to improve economies. Many folks are describing her announcement as very bullish for bitcoin.
IMF Urges Spending ‘En Masse’
IMF Managing Director Kristalina Georgieva has advised the governments globally to spend as much as they can and then spend even more. She announced on Friday at Russia’s annual Gaidar economic forum that policymakers globally should welcome more spending to help revive their economies. She was cited by Reuters as saying:
In terms of policies for right now, very unusual for the IMF, starting in March I would go out and I would say: ‘please spend’. Spend as much as you can and then spend a little bit more.
“I continue to advocate for monetary policy accommodation and fiscal policies that protect the economy from collapse at a time when we are on purpose restricting both production and consumption,” she continued.
“IMF staff calculated that a coordinated G20 fiscal stimulus in green infrastructure if it is done in a coordinated manner, would deliver two-thirds more in growth … than if each country acts on its own.” Georgieva also noted that in 2020, the IMF provided support to 83 countries.
Extensive Government Spending Bullish for Bitcoin
Bitcoiners on social media view this news as ultra bullish for BTC. Many people interpret the IMF chief’s plea as “brrrr as much as you can.” Others commented: “Money printer goes brrrr” and “buy bitcoin.”
This is not the first time that the crypto community has addressed how massive government spending would heighten the price of bitcoin. One of the pioneer bitcoin investors Bruce Fenton earlier expressed, “stimulus & increased government spending causes rising prices, bitcoin wins.” River Financial tweeted last week:
Several of our largest clients have made sizable allocations to bitcoin principally because of the unsustainable government spending and quantitative easing from the Fed.
What do you think about the IMF chief’s statement? Let us know in the comments section below.
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