the people who are surveyed who intend to use their checks for Bitcoin are effectively using

the stimulus policy mechanism against the potential negative impacts of the stimulus policy

itself. It shows how much the general retail understanding of Bitcoin has changed and advanced.

When you have billionaire investors and regular people speaking the same language of the macro context,

it could get pretty wild, pretty fast.

Welcome back to The Breakdown with me, NLW.

It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

The breakdown is sponsored by nexo.io, Casper, and NEM, and produced and distributed by CoinDesk.

What's going on, guys? It is Monday, March 15th, and today we are talking about why Americans are

poised to spend up to $40 billion in direct stimulus payments on Bitcoin.

First up, however, let's do the brief.

First on the brief today, we have to do a little price talk.

It was another weekend and another milestone.

Unless you were dead or completely off the grid, you know that Bitcoin hit $60,000. In fact, it spent

some significant time over $61,000. Now, the prices subsequently come back down a little bit.

There was a set of cascading liquidations because people insist on trading with a huge amount

of leverage. And the popular narrative around the

small dip from today is that it's just profit-taking. Certainly, when we've seen such a meteoric rise

up, it makes sense that that would be the case. For me, I don't care so much about the price,

but what I do care about and what I do find interesting is the psychological impact of the

price. It took three years to get back to 20,000 after it was first reached in 2017. It took just

three months from when we hit 20,000 this time around to jump 3x to 60,000. Of course, in that sort of extreme scenario, you're going to

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