First Batch of $1,400 Stimulus Checks Hit Bank Accounts Starting Today

[masteripper]

And this simply explains why ALL the big guys have shown so much affection to Crypto.....

[tbterryboy]

but will they buy bitcoins with that money?

Why not? Reports have been made after the very first release of stimulus before that some people in the US are actually buying Bitcoin. Though, only a small percentage of that total amount could be added to the Bitcoin market, but at least it has made a noticeable impact.
Top researchers are eyeing some stimulus could be put to either stocks or Bitcoin.

They definitely will, not everyone of course, but some definitely will. Think about it this way, consider how many people are in crypto in USA, and consider 10% of those people putting all their money in, even that creates a huge increase in bitcoin price.

However one thing is a big problem that not many people consider, the reality is that we are in a situation where it doesn't go to every single citizen all at the same time, it just goes in parts by parts and that means that we will not see a huge increase all at once, and that is why I think the price will not be affected that easily, sure it could be something that can make some money, but it doesn't mean that it will make that kind of money right away, the price will change upwards a bit, but it will be gradual increase and not all at once, the more people get their checks the higher price will become.

[South Park]

On Twitter someone posted some survey where they got 2200 people to respond and about 6% said they would buy stocks and 3% said they would buy crypto. Its not much but since the stimulus is huge its between $10 billion dollars entering the crypto market.

Even if they don't buy crypto, as long as they buy stocks and make the stock market make new ATHs then most likely crypto will follow into ATHs. The original $1200, if you invested in crypto would of net you maybe $10K today. So most likely there are going to be some people who are going to be expecting to turn their $1400 cheques into $14,000 if history repeats itself. However most likely I don't think we will ever see $550,000 bitcoin, especially in the same time frame.

We saw a lot of articles about how the money of that stimulus came to bitcoin however since the price is too high maybe people decided that it was not the best move to get in bitcoin and they actually used their stimulus check to buy stuff? We must remember that on the US the vaccination has taken place at a very fast speed unlike most countries so maybe most of that money went to pay for a few days of vacation as everyone is tired of being on their house all the time.

[Yaunfitda]

On Twitter someone posted some survey where they got 2200 people to respond and about 6% said they would buy stocks and 3% said they would buy crypto. Its not much but since the stimulus is huge its between $10 billion dollars entering the crypto market.

Even if they don't buy crypto, as long as they buy stocks and make the stock market make new ATHs then most likely crypto will follow into ATHs. The original $1200, if you invested in crypto would of net you maybe $10K today. So most likely there are going to be some people who are going to be expecting to turn their $1400 cheques into $14,000 if history repeats itself. However most likely I don't think we will ever see $550,000 bitcoin, especially in the same time frame.

We saw a lot of articles about how the money of that stimulus came to bitcoin however since the price is too high maybe people decided that it was not the best move to get in bitcoin and they actually used their stimulus check to buy stuff? We must remember that on the US the vaccination has taken place at a very fast speed unlike most countries so maybe most of that money went to pay for a few days of vacation as everyone is tired of being on their house all the time.

That's also possible at this point, last year the price is on the $4k levels that's why people who received their stimulus check put it into bitcoin  and now they are making profits already. But this time since the price tend to be too high, it needs to go to 6 digits before they can realized a good gains out of their stimulus check.

So there could be crypto enthusiast who just insist of keeping their stimulus package or even used it already to just buy necessary stuff. Some basic needs to keep them at least off the hook in this pandemic.

[Sithara007]

Judging by this topic, a huge part of the stimulus payments will go to the exchange or to cryptocurrencies. These are clearly not the primary living expenses. In my opinion, this casts doubt on the whole concept of these payments - it is more likely to serve as a means for further inflating bubbles in all areas than something useful.

This is what happens when you distribute freebies and cash handouts to people who don't need them. On top of that, due to travel restrictions and closure of business establishments, for the recipients of these payments there are few avenues to spend them. Obviously a large part is going to end up in various cryptocurrency exchanges and stock market. I can foresee a rise in demand for bullion and diamond as well. The exact amount that will go in to each of these sectors can only be assumed right now, but the figures will be clear in a few months.

[South Park]

Judging by this topic, a huge part of the stimulus payments will go to the exchange or to cryptocurrencies. These are clearly not the primary living expenses. In my opinion, this casts doubt on the whole concept of these payments - it is more likely to serve as a means for further inflating bubbles in all areas than something useful.

This is what happens when you distribute freebies and cash handouts to people who don't need them. On top of that, due to travel restrictions and closure of business establishments, for the recipients of these payments there are few avenues to spend them. Obviously a large part is going to end up in various cryptocurrency exchanges and stock market. I can foresee a rise in demand for bullion and diamond as well. The exact amount that will go in to each of these sectors can only be assumed right now, but the figures will be clear in a few months.

There is little doubt that part of the explanation for why the price of bitcoin has grown so rapidly has to do with all that free money the government gave to everyone, for the people that needed it to pay for basic necessities like food or rent then the money was a complete necessity, but for rest of the people that did not needed it required to find something to do with that money and investing in it bitcoin seemed like the best option at the time.