The United States will pay $1,200 to any American citizen who has an annual income below $75,000.
With millions of unemployed people because of the Coronavirus/Covid19 crisis, America is going through difficult times in a country where there is very low unemployment benefits.
The Donald Trump government therefore decided to pay $1,200 in financial aid to every American citizen.
If this financial aid will certainly help Americans pay their rent or go to the supermarket to buy food in particular, the American crypto exchange Coinbase has noticed a significant increase in deposits of $1,200 from its customers.
With supporting figures, Coinbase CEO Brian Armstrong confirmed that there were many more deposits in the amount of $1,200 correlated to the start of US government aid payments!
— Brian Armstrong (@brian_armstrong) April 16, 2020
Americans who would therefore perhaps use this financial aid of 1200 dollars to buy Bitcoin or other cryptocurrencies like Ethereum, Ripple XRP, …
More and more people are also using Bitcoin bots and crypto trading bots to trade Bitcoin BTC as reported by automated crypto trading platforms like Kryll who see their trading volume soaring!
Netspend, which processed about $1 billion in payments from this financial aid, said most customers use these funds for “groceries, fast food, pharmacies, gas, as well as to withdraw money at ATMs”.
This increase in deposits on Coinbase actually corresponds with the start of the payment of this financial aid and therefore seems to indicate that some Americans will use this payment of $1,200 to buy Bitcoin BTC or other altcoins.
Each American being free to do what he/she wants with this money, some people who do not need it to pay their rent or buy basic necessities can therefore very well use it to invest in stock market or in Bitcoin.
A Bitcoin price currently around $7,226.
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