What Would Happen If the Second Round of Stimulus Checks Were Spent on Bitcoin?
A fascinating & entirely theoretical study into the effects of a coordinated mass movement
[This story was picked up by Forbes and my research used as a basis for their own article. You can see their piece here.]
Like almost 13,000 others, I am following the @bitcoinstimulus handle on Twitter and look forward to receiving the regular updates.
This account was set up when Americans received their first round of stimulus checks a few months ago, and it tracks the current dollar value of the $1,200 check had that amount been placed entirely into bitcoin at the time of issue.
At the time of this writing, that particular value had risen to $2,129, an impressive increase of 77%.
For many Americans, that stimulus check was a godsend, an absolute lifeline for the basics to keep a roof over their heads, and as a result, investing it in this way was probably not a realistic option.
However, data from various U.S. exchanges show that the precise amount of $1,200 was spent on bitcoin by a very small percentage of customers exactly around the time of issue.
