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crypto trickle up mark cuban bitcoin stimulus
Nexo Logo

Mark Cuban’s $4,000 Trickle Up Stimulus Could Provide Boost For Crypto

Tony Spilotro by Tony Spilotro
2 years ago
in Bitcoin, Cryptocurrency news
Reading Time: 2 mins read
Advertisement

Mark Cuban is a self-made billionaire, owner of the Dallas Mavericks, investor, and one of the mainstays on the popular TV show Shark Tank. Although Cuban hasn’t always been the biggest supporter of crypto, the man definitely knows money and investments.

Cuban has pitched an interesting “trickle up” take on stimulus spending in lieu of the current program that has the potential to be an enormous boost for crypto assets.

Mark Cuban Proposes Trickle Up Stimulus With Set Expiration Date

Back in April, the US government issued stimulus checks valued at as much as $1,200 per individual taxpayer. The money distributed was meant to help increase consumer spending and help individuals weather the lockdown caused by the pandemic.

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The problem with this strategy, however, is that individuals fearing the worst has yet to come, may be socking the money away into their savings accounts for a rainy day, rather than turning to retail small businesses to spend.

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

The lack of spending is harming struggling small businesses and hard-hit retailers, but consumers aren’t just spending less out of fear and savings, they also can’t go anywhere.

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Mark Cuban, billionaire investor and one of ABC’s “Sharks,” alongside the likes of Kevin O’Leary, Robert Herjavec, and Daymond John, has a better idea for stimulus checks, focusing on “trickle up economics.”

In addition, because this will take time, we need to consider an interim spending stimulus program. All 128m households could get a $1k check every 2 weeks for the next 2 months that MUST BE SPENT WITHIN 10 DAYS OF RECEIPT OR IT EXPIRES. This "use it or lose it" prog will

— Mark Cuban (@mcuban) May 17, 2020

Cuban proposes that all individuals get an additional $1,000 checks every two weeks, for the next two months. This money, however, comes with a stipulation: spend it, or lose it.

The expiration date tied to the funds would encourage consumers to spend to take advantage of what’s being offered. Few consumers would let the money simply go to waste, so they’d find something – anything – to spend it on. Possibly even crypto.

Money Made To Move Could Be Enormous Boost For Crypto

Forcing consumers to spend money, will absolutely work. Few taxpayers would be willing to let a free hand out from the government go to waste.

Money would flow into high price tag consumer goods such as TVs, computers, appliances, and even home improvements. The economy would find the needed stimulus.

But just as we saw with the initial $1,200 checks, some of this money would flow into Bitcoin and the rest of the crypto space.

Related Reading | Stellar’s Fractal Shows How Epic the Next Crypto Bull Market Can Be

Immediately following the first round of checks, Coinbase saw an uptick in buys of Bitcoin at $1,200 per purchase.

These hard-capped assets have been in a downtrend for two or more years. Sudden inflow of capital into the illiquid assets, could reignite another crypto bubble.

Crypto assets are a high-risk investment that often comes with the advice to never invest more than you can comfortably afford to lose. But if it was free money from the government that was going to be lost anyway if you don’t spend it, why wouldn’t some investors let it ride by buying Bitcoin and altcoins.

Tags: bitcoinbtcbtcusdBTCUSDTcryptomark cubanShark Tankxbtusd
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. 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 at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

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