MarketBeat.com | Apr 01, 2021 06:12AM ET
As crazy as it may sound, especially when looking at Bitcoin’s meteoric rise over the past year, but we think there is a very strong case for Bitcoin blowing past $60,000 and $70,000 on its way to hitting $80,000. At the core of the argument is Bitcoin’s rising usage, the ever-increasing hash-rate, and the dwindling supply but there is more. Bitcoin is spreading through the economy like wildfire and on the verge of an exponential surge in demand. We thought it was crazy when Bitcoin was heading to $59,000 and now look what it's doing.
Despite their disagreements (real or imagined) on almost everything, Democrats and Republicans alike love infrastructure projects. These are easy wins for Congressional leaders seeking re-election. And they typically spur job creation, which contributes to economic growth.
With that in mind, it’s ironic that, in the last four years, the United States Congress did not pass an infrastructure bill.
Nevertheless, even with (and maybe because of) the gridlock that looks to be in the country’s future, the infrastructure looks to be on the front burner again. The economic recovery is still far from complete. Unfortunately, neither are America’s roads, energy grid, telecommunications systems, and the like. That means that it would seem like a good policy for a Biden administration to look at an infrastructure bill.
Biden will be under pressure to endorse the $1.5 trillion infrastructure package that the Democrat-controlled House of Representatives passed in July. But the package may need to be tweaked a bit since it currently includes climate change initiatives that have kept the bill from advancing through the Senate.
However, it appears that the economy will need some significant juice after whatever this winter brings in terms of the virus. And if calmer heads prevail (we can always hope), there may be a major infrastructure bill to stimulate job creation. And we’ve identified seven stocks that should bear watching if this comes to pass.
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