link1323 link1324 link1325 link1326 link1327 link1328 link1329 link1330 link1331 link1332 link1333 link1334 link1335 link1336 link1337 link1338 link1339 link1340 link1341 link1342 link1343 link1344 link1345 link1346 link1347 link1348 link1349 link1350 link1351 link1352 link1353 link1354 link1355 link1356 link1357 link1358 link1359 link1360 link1361 link1362 link1363 link1364 link1365 link1366 link1367 link1368 link1369 link1370 link1371 link1372 link1373 link1374 link1375 link1376 link1377 link1378 link1379 link1380 link1381 link1382 link1383 link1384 link1385 link1386 link1387 link1388 link1389 link1390 link1391 link1392 link1393 link1394 link1395 link1396 link1397 link1398 link1399 link1400 link1401 link1402 link1403 link1404 link1405 link1406 link1407 link1408 link1409 link1410 link1411 link1412 link1413 link1414 link1415 link1416 link1417 link1418 link1419 link1420 link1421 link1422 link1423 link1424 link1425 link1426 link1427 link1428 link1429 link1430 link1431 link1432 link1433 link1434 link1435 link1436 link1437 link1438 link1439 link1440 link1441 link1442 link1443 link1444 link1445 link1446 link1447 link1448 link1449 link1450 link1451 link1452 link1453 link1454 link1455 link1456 link1457 link1458 link1459 link1460 link1461 link1462 link1463 link1464 link1465 link1466 link1467 link1468 link1469

Americans to Buy Bitcoin With Their Second Stimulus Checks After Initial Investment Turned in 50 Profit

Americans to Buy Bitcoin With Their Second Stimulus Checks After Initial Investment Turned in 50% Profit

Americans to Buy Bitcoin With Their Second Stimulus Checks After Initial Investment Turned in 50% Profit

U.S. investors may be planning to use their second $1,200 stimulus money to buy bitcoin — again.

The U.S. government is, on Monday, expected to approve plans for this second payout, White House officials have confirmed. The bailout is intended to cushion families against the covid-19 fallout.

Instead of buying groceries or paying rent, many Americans opted to invest in the top cryptocurrency when they received their first stimulus checks in April.

And the gamble — ditching inflationary government money for deflationary crypto — is paying off. Those that converted the free money to bitcoin have raked in up to 54% in profit in three months as the price of BTC barrelled past $10,700 on July 27.

At the time when the checks were first issued, each bitcoin traded for around $7,000. Today, each $1,200 check invested in BTC is worth about $1,829, a gain of more than $600.

Now, history may be about to repeat itself.

“Straight to the BTC, straight to the cold storage wallet,” said Reddit user Limited-Visibility, while responding to a thread started by Wocketman0351, who asked: “Who else is converting their free government money straight to BTC?”

Another Redditor, Rapierce0238, stated: “What I do get will go straight to bitcoin, just like last time.”

“It’s really the easiest way to avoid hitting the inflation from the stupid Fed continuously printing money,” opined Girafferage.

Someone else claimed: “I will be buying more car parts and bitcoin. We have plenty of food because we’ve been stocking up all summer.”


According to U.S. government officials, the latest stimulus checks are expected to be paid out sometime in August. White House economic advisor Larry Kudlow told CNN that families will receive this second $1,200 payout as part of a $1 trillion stimulus package.

When the government first paid out the stimulus money in April, large cryptocurrency exchanges Coinbase and Binance reported a spike in exactly $1,200 equivalent deposits on their platforms.

Brian Armstrong, chief executive officer of Coinbase, said at the time that the number of $1,200-worth deposits and buys on the exchange climbed by nearly 400% that month.

Will more Americans buy bitcoin with their stimulus checks? Share your thoughts in the comments section below.