Cryptocurrency

EE. UU. would send another subsidy of us $ 1,200 can buy bitcoin again?

Key facts:

It would be a second round of aid to the citizens by the coronavirus.

The measure has not been formalized, but there would be a consensus to announce it.

The united states could announce in the next few days the sending of a new grant for $ 1,200 to its citizens. The measure would be an attempt to revive the economy after the fall of the pandemic of the coronavirus. Like the one sent in April, a percentage of americans could buy bitcoin with the money of the government.

The possible relief to the population was leaning this Friday by the secretary of the Treasury of EE. UU., Steven Mnuchin, who in an interview with CNBC, he mentioned that there was a high probability that you will run a new round of help.

“The focus of the president (Donald Trump) is that he wants to put money in the pockets of the people now, because we need to re-open the economy (…) the preference of the president is to make sure that we send direct payments quickly,” said Mnuchin on this measure and another series of decisions that seek to encourage spending.

At this point could arise the question, what guarantees that the funds will be used to purchase food, medicines, necessities or to pay debts? Probably no. In April, with the bank deposit of $ 1,200, a percentage of the population benefited would have bought bitcoin or cryptocurrencies in general.

At that time, and according to Brian Armstrong, CEO of Coinbase, and a spokesperson of Binance US, were recorded unusual increases in deposits and acquisitions of cryptocurrencies in the amount of $ 1,200. Breaking News reported three months ago that some citizens of the usa. UU. they would be turning their allowance, cryptocurrencies, and not on what we supposedly want the government to spend.

From the foregoing it may be inferred that, although the situation is difficult to economic level, a percentage estimate of the population prefer to buy bitcoin as their financial conditions would not be as deteriorated as the government thinks. It is also possible that the aid is not reaching those who truly need it.

One aspect to take into account on this point is that the rate of unemployment in the united States has been reduced by 13.3%, recorded in may, to 11.1% in June. That is to say, the economy added 4.8 million jobs. Who began to produce, and perhaps receive a subsidy, it is possible to allocate the funds to other interests, among which might be the cryptocurrencies.

The purchase of bitcoin with money from the government is not only related with the relief sent in April. Two weeks ago, a citizen identified as Joshua Thomas Argires was arrested after buying almost $ 1 million in bitcoin with government loans. The involved had applied for two grants through the Program for Protection of Salary Payment (PPP) to allegedly meet the payroll of two companies.

The united states is the country most affected at a global scale by the pandemic of the coronavirus SARS-CoV-2, and the infectious disease COVID-19. Statistics recorded more than 4.1 million people were infected and more than 145,000 deaths.

About the author

Belinda Carey

Belinda Carey

A finance girl by education, Belinda has been drawn to cryptocurrencies ever since Bitcoin first emerged in the 2009. Nearly a decade later, Belinda is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies.

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