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Proposed Stimulus Package by the Biden Administration: Further Stimulating a Crypto Nation

On January 14, president-elect Joe Biden announced a proposed $1.9 trillion rescue package in an effort to stimulate the United States economy and combat the COVID-19 fiscal crisis. Mr. Biden’s pandemic response will be financed completely through increased federal borrowing. The president-elect states, “The very health of our nation is at stake… [and it] does not come cheaply, but failure to do so will cost us dearly.”

Although many Americans are optimistic that the proposed rescue package will help relieve the economic downturn and aid the country towards reopening, many questions whether the short-term benefits outweigh the long-term consequences. As quoted above, Biden believes that a “failure to do so [implementing the stimulus package] will cost us dearly,” but if the rescue package is employed, will the future price paid cost us and our markets even more?

Citizens and investors, alike, may turn to cryptocurrency to hedge against inflation.

In fact, Biden’s rescue package may be the added dry powder, boosting the mass adoption of cryptocurrencies, like Bitcoin; thus, triggering the next bull run.

As more money floods the economy and heads towards crypto assets, there is expected to be an institutional shift in investing allocation. Within the last year, following stimulus check announcements and distributions, markets saw an uptick in the price and demand of Bitcoin. Although it is surprising that Biden’s stimulus package announcement did not trigger a bullish response by the Bitcoin market, many economists and analysts agree that as the dollar’s purchasing power continues to erode, Bitcoin and other cryptocurrencies will rally. A “Crypto-Nation” is approaching in the near future and Americans should get ready.

Jordana Cohen,

Associate

Alpha Sigma Capital

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Daniel Siciliano

F. Daniel Siciliano is an Independent Director of the Federal Home Loan Bank of San Francisco and Chair of the American Immigration Council. He is the former faculty director of the Rock Center for Corporate Governance at Stanford University and former Professor of the Practice and Associate Dean at Stanford Law School. His work has included expert testimony in front of both the U.S. Senate and the House of Representatives and for 2009, 2010, and 2011, alongside leading academics and business leaders such as Ben Bernanke, Paul Krugman, and Carl Icahn, Professor Siciliano was named to the “Directorship 100” – a list of the most influential people in corporate governance.

Siciliano was also co-founder, CEO and ultimately Executive Chairman of LawLogix Group, Inc. – a global software technology company named 9 consecutive times to the Inc. 500/5000, several times ranked as one of the Top 100 fastest-growing private software companies in the US and named to the US Hispanic Business 500 (largest) and Hispanic Business 100 (fastest growing) lists for 2010 and 2011. In 2012 he sold a majority stake of the company to PNC Riverarch Capital, continued as Executive Chairman, and led the sale of the company to Hyland Software/Thoma Bravo in 2015.

Siciliano is a co-founder and board member of the Silicon Valley Directors’ Exchange (SVDX), Chairman of the national non-partisan American Immigration Council, past-President of the League of United Latin American Citizens (LULAC) Council #1057, and an active member of the Latino Corporate Directors’ Association.


Siciliano’s related areas of expertise include executive compensation, corporate compliance, the legal and social impact of autonomous (AI/robotic) systems, and corporate technology strategy and security. He has served as a governance consultant and trainer to the Board of Directors of dozens of Fortune 1000 companies (including Google, Microsoft, Fedex, Disney, Entergy and Applied Materials), is an angel investor and consultant to several firms and companies in Silicon Valley, Hong Kong, India, and Latin America, and currently serves as an independent director on the board of the Federal Home Loan Bank of San Francisco. He lives in Los Altos, California.