- Trump has stated that he wants a bigger and better stimulus check plan
- If the stimulus check goes ahead, it would be huge news for Bitcoin
- More and more people will likely invest in Bitcoin with their stimulus check following the gains made from the last batch
Donald Trump is arguably the biggest hero in the Bitcoin world. Back in April, Trump dished out checks to every single American worth $1,200, and a lot of wise people squirreled it away and instantly bought Bitcoin. Those that did are still laughing as that $1,200 check, if invested instantly into Bitcoin, is now worth $2,042 – that’s more than a 70% increase in value.
As the mail ballots and early polling stations open up, Trump once again announced another COVID stimulus check to all Americans. In his Tweet announcing the check, Trump wrote “STIMULUS! Go big or go home!!!”, a sentiment we share dearly.
STIMULUS! Go big or go home!!!
— Donald J. Trump (@realDonaldTrump) October 13, 2020
Go Big for Bitcoin
If Trump gets his wish and manages to give every American $1,500 in the form of a check, it will do wonders for Bitcoin. First time around, a number of top Bitcoin maxis smashed their check straight into Bitcoin and urged others to do the same. If this happens again, it will increase the buying pressure and should result in a nice little pump for BTC.
$2042 (+70.13%) #bitcoin
— $1200 Stimulus Is Now Worth (@BitcoinStimulus) October 17, 2020
The other positive for Bitcoin is that the US government will simply turn the money printer on and squirt out trillions of dollars. How’s this good for Bitcoin? Inflation, of course. As the US prints more money, the US Dollar becomes weaker, meaning Bitcoin will gain even more against the greenback, even if it actually makes Americans poorer. So, the larger the stimulus check, the better it is for Bitcoin – cha-ching!
What Will You Buy?
If Trump manages to get his Stimulus check through the Senate and out to your bank account, you could receive your check in the mail, or instant deposit in your bank account, before the year is out. But the real question is, what are you planning to buy with it? Will you be a smart cookie like the Bitcoin maxis from April and dump it into Bitcoin? Will you risk life and limb to find a 10x in the DeFi world? Perhaps you will opt to spend it on a few nice meals out. Whatever you opt to do, just make sure you’re not living beyond your means and that you ensure you can keep the power on until you next get paid!
