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Home Technical analysis BTC

Why Investors Are Spending Stimulus Checks To Buy Bitcoin

Tony Spilotro by Tony Spilotro
1 month ago
in BTC
Reading Time: 3min read
bitcoin crypto stimulus check

Fort Collins, CO, USA - May 13, 2020: United States Treasury Economic Impact Payment stimulus check for Coronavirus COVID-19 relief.

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Bitcoin suffered a devastating blow on Black Thursday alongside the rest of the financial world. But unlike other assets, the top cryptocurrency has grown enormously since, and become the best performing asset of 2020 bar none.

Emergency assistance checks dispatched to American taxpayers meant to stimulate economic activity only served to stimulate Bitcoin’s bullish momentum, and months later, the asset is trading at well above its previous all-time high. Here’s what investors earned by putting their stimulus check into Bitcoin along with why investors are even more likely to do so again with the second round of government funding.

Church 2.0: Cryptocurrency Was Created To Separate Money From The State

2020 has been a bizarre year that few could have predicted. And although the exact scenario itself wasn’t considered, Satoshi Nakamoto was able to see the current monetary implosion brewing.

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It was for this reason that Bitcoin was created in the first place, and was designed to be both decentralized and non-sovereign. By separating money from the state, citizens are freed from the control fiat currencies offer governments through central banking.

The dire need for a way out wasn’t made clear until recently when the money supply spun out of control, led by central banks seeking to give the economy a shot in the arm.

Related Reading | Stimulus Checked: Here’s The ROI on a $1,200 Investment in Top Crypto Assets

To hide the fact that the government is printing more money left and right that citizens will pay the tax on one way or another, politicians have snuck in a $600 direct payment to American taxpayers.

But the more money the government prints, the faster inflation will spiral out of control, and very quickly the initial $1,200 and the second round of $600 begins to look more like a “loan” handed out to taxpayers that they’ll spend the rest of their lives paying back.

This is just one of the many reasons, why investors fed up with paying for government-caused inflation and taxation, are putting their stimulus money in Bitcoin.

bitcoin crypto stimulus check

Bitcoin's chart compared to when stimulus money was issued through today  | Source: BTCUSD on TradingView.com

Buying Bitcoin With Stimulus Money Could Protect Value, Opts Out of Failing Fiat System

Investing in Bitcoin in 2020 is a no-brainer. The cryptocurrency is enjoying greater acceptance than it ever has before, it has entered a new parabolic phase and bull market, and according to analysts, this is just the start.

Making the decision even easier, is the fact that the initial $1,200 check invested into Bitcoin would have generated a $3,000 ROI above and beyond the $1,200 put down. Turning $1,200 into $4,200 is extremely appealing, and another $600 invested into Bitcoin could be even more profitable considering the asset’s momentum and expectations to reach $100K or more within a year.

Related Reading | Ethereum Beats Bitcoin, Gold, and Stocks In Stimulus Check Investment

But beyond even just the returns on the stimulus money, which makes sense given the fact it will attribute to inflation for the next few decades, there are more reasons to put the fiat funding into crypto.

Breaking down where the new stimulus money is going, shows a trail of flow into other countries and into the US military. If US taxpayers will pay for this $600 check indefinitely, then the benefits should go to them too.

This is just yet another way that proves just how poorly the US government is handling monetary policy, and the only way to opt-out of this broken system is to buy Bitcoin.

So while the government is giving you money that you’ll pay for likely forever, use it to solve the issue and protect the money you’re being given.

Featured image from Deposit Photos, Charts from TradingView.com
Tags: bitcoinbtcbtcusdBTCUSDTcryptoxbtxbtusd
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellent. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

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