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

[nikolastech]

BTC will go crazy up today
First Batch of $1,400 Stimulus Checks Hit Bank Accounts Starting Today [Suspicious link removed]j.com/articles/bidens-1-400-stimulus-checks-hit-bank-accounts-starting-today-11615590107

400 billion dollars being sent out

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[boyptc]

Here's another source --> https://www.foxbusiness.com/economy/banks-processing-stimulus-checks

Could this be another reason why we see bitcoin hit another all time high? those times when the news about stimulus came, there was an increase that happened for bitcoin.

[HabBear]

Some people from California were claiming on Reddit that they got their "stimmy" yesterday. I doubt that action is driving a $4k plus jump over the night in the US. The voices online talking about dumping their check into crypto or wallstreetbets are loud and numerous but when compared to the amount of money they can actually devote to the market (and affect price changes) it's minimal. But it's impossible to know for sure.

The only thing that is certain is that Bitcoin (and all crypto) is a truly global market...all day all night. Anything we believe locally could influence Bitcoin is actually going to have less real impact on the price because of this global factor.

What's more likely is that another institutional buyer decided to go in or "buy the dip" and they submitted that transaction at the start of the weekend when other corporate competitors wouldn't be poised to respond.

Just my BTC0.00000033.

[Rruchi man]

Our government should do the best to keep close tabs with the process of distributing the stimulus package, because cybercriminals and scammers will be gearing up to hijack the entire process

[doctor877]

To me I just feel it's just a coincidence, it's what many people will share and not what will be given to one single person. People need money to do their everyday activities and carter for their immediate needs. That's the main purpose of  this check. Someone big bought hugely into bitcoin that's what is likely to have caused the jump.

[bolawin]

but will they buy bitcoins with that money?

[masterzino]

Here's another source --> https://www.foxbusiness.com/economy/banks-processing-stimulus-checks

Could this be another reason why we see bitcoin hit another all time high? those times when the news about stimulus came, there was an increase that happened for bitcoin.

I don't think this is the reason behind the new ATH.

The U.S. is printing dollars daily. Another trillion or two doesn't have a lot of difference.

I think the reason is the constant flow of institutional investors. I read about at least three new public companies investing in Bitcoin in the past two days.

[GreatArkansas]

but will they buy bitcoins with that money?

Probably YES.

If you can check this Coinbase data, it is from the $1200 stimulus check last year, you can see a huge pump on the chart from the day of distribution too.
I am only afraid now if people are afraid of buying on these kinds of price levels. But then again, that money is a stimulus check and they will not think about the price and just buy Bitcoin then it will be good.

[Kemarit]

Here's another source --> https://www.foxbusiness.com/economy/banks-processing-stimulus-checks

Could this be another reason why we see bitcoin hit another all time high? those times when the news about stimulus came, there was an increase that happened for bitcoin.

Yes, I think this is the main driver for the sudden uptick in the price again, breaching $60,000 and posting as high as $61,000. The last time that we have this stimulus package, the price also increases as well.

So we should expect the price to go even higher as more stimulus cheques hits bitcoiner in the US. Of course, only a portion will invest on BTC, there might be people who really needed that money right now. But for those bitcoiner, this is no brainer.

[TravelMug]

For those who wanted to see how much is the previous stimulus now worth:

$1200 Stimulus Is Now Worth:
$11,069.37
+822%

https://www.bitcoinstimulus.net/

So in about a year, it's more than 800% jump. I'm not saying that todays stimulus check will just the same numbers no, but chances are it good give those who will received it  right now and the next coming days a good profit.

[Amejoaquim]

OMG no wonder why the price of big coins are going up, with that stimulus theres a lot of people who turn it into investing in cryptocurrency.

This month it's gonna be lit and i think the price of bitcoin will reach $65-$70k before the end of this month.

[cryptomaniac_xxx]

Still 50:50 that people are buying their stimulus checks with bitcoin. Too early conclude unless we have some data right now. Here is another latest company that bought bitcoin according to this news:

Software Firm Meitu Buys $22M of Ether, $17.9M Bitcoin for Its Treasury

Although it said that they have bought on March 5, but it was just revealed a couple of days ago. So this news might fuel the current move that we have seen per 24 hours.

[Kong Hey Pakboy]

OMG no wonder why the price of big coins are going up, with that stimulus theres a lot of people who turn it into investing in cryptocurrency.

This month it's gonna be lit and i think the price of bitcoin will reach $65-$70k before the end of this month.

Considering that there is a chance that out of the 400 billion of that stimulus rollout, if bitcoin were to ever get at least 100 billion USD of that, I think that we are talking more than just 65k to 70k USD because back when Tesla did a purchase of 1.5 billion USD, the price moved a considerable amount and if that happens now, I think that there will be a big skyrocket in the prices but considering the current prices we might not be sure that people are going buy bitcoin with their stimulus checks.

[Sithara007]

BTC will go crazy up today
First Batch of $1,400 Stimulus Checks Hit Bank Accounts Starting Today [Suspicious link removed]j.com/articles/bidens-1-400-stimulus-checks-hit-bank-accounts-starting-today-11615590107

400 billion dollars being sent out

Bitcoin spike started even before the first batch of cheques were sent out. And call me overenthusiastic if you want, but IMO this alone will make sure that Bitcoin breaches the $100,000 level in a few months. $400 billion is a huge amount and a large part of the population would immediately convert it to assets protected from inflation such as gold and BTC. And in order to increase the market cap of Bitcoin from $1.14 trillion to $2.00 trillion, we don't need another $860 billion in inflows. We only need a fraction of that, and that's how the market works.

[charlesmichel1]

$1.9 trillion stimulus will literally send Bitcoin to the Moon. I'm waiting for my check. Spending the last stimulus on buying BTC and ETH via Ownr was my best investment deal ever.

[eaLiTy]

Could this be another reason why we see bitcoin hit another all time high? those times when the news about stimulus came, there was an increase that happened for bitcoin.

I am confused when we see reports like this which really does not make sense at all because the stimulus checks are meant to help during these hard times and the strange aspect is that the BTCitcoin market always rallies when ever the stimulus check news comes out and i have no idea whether it has any relation and i still believe it is just a mere coincidence.

[pooya87]

BTC will go crazy up today

I don't think so.
For starters this is just happening in US not all over the world.
Secondly from all those receiving this money, many don't even know about bitcoin let alone want to invest in it. Those little number of people who do know may not be able to invest in bitcoin since they may need that money already due to bad financial state (eg. catching up on bills, etc.).
And finally bitcoin price has been rising slowly so far rising 1%-3% at a time and I don't see this trend changing that soon even with a "hyped" up news like this.

[Poker Player]

BTC will go crazy up today

I don't think so.
For starters this is just happening in US not all over the world.
Secondly from all those receiving this money, many don't even know about bitcoin let alone want to invest in it. Those little number of people who do know may not be able to invest in bitcoin since they may need that money already due to bad financial state (eg. catching up on bills, etc.).
And finally bitcoin price has been rising slowly so far rising 1%-3% at a time and I don't see this trend changing that soon even with a "hyped" up news like this.

Yes, I think the effect on Bitcoin prices is generally overestimated. A lot of that money will go into financial assets in general, that's true, including Bitcoin, but it doesn't seem like it's going to have much more influence than the supply<demand equation is already having. This shows how useless the populist stimulus check measure is.

[pooya87]

Yes, I think the effect on Bitcoin prices is generally overestimated. A lot of that money will go into financial assets in general, that's true, including Bitcoin, but it doesn't seem like it's going to have much more influence than the supply<demand equation is already having. This shows how useless the populist stimulus check measure is.

As a whole the money printing policy will decrease the value of US dollar with the inflation it causes and it will eventually contribute to the bitcoin price rise but the effects are indirect and over the long haul not the direct one that people are stating these days and definitely not in short term.

[Smartvirus]

Could this be another reason why we see bitcoin hit another all time high? those times when the news about stimulus came, there was an increase that happened for bitcoin.

It could be so, at least, we've seen this happen before and so, there isn't anyway that some or a lot of this funds won't come into the market. Bitcoin has gained the world recognition it needs and at the moment,  its doing another amazing move in the market, reaching another all time high (ATH) and as such, a lot of people would want to won some.
Musk have dropped another tweet and we know how these tweets goes so, it won't be surprising to see BTC doing some moves for the bulls and continues to gain momentum in a few days.