US government deposited coronavirus relief payments to American citizens. In this respect, it is interesting to know how US citizens spent them. It turned out that many people decided to invest instead and chose Bitcoin for this purpose.
Those who invested in bitcoin in April were able to get profit more than 40%. The payments were made by US government to citizens to support the economy in times of crisis. According to social media posts, many Americans invested these funds in bitcoin.
One of the Reddit users created a thread in which he encouraged readers to share their thoughts on investing federal money in bitcoin.
“Who else is converting their free govt money straight to BTC?”
Many of those who participated in the discussion expressed their desire to invest in cryptocurrency. According to Forbes, Americans view bitcoin as a tool to preserve value during the pandemic. For this reason, many beneficiaries have invested $ 1,200 in BTC raised by the government in the spring of 2020.
Information about a new wave of issuing funds to Americans appeared on the network on July 23. It is noteworthy that during this period the bitcoin rate went up.
Bitcoin chart. Data: CoinMarketCap
Earlier, The Tokenist analysts presented the results of a study according to which 45% of US millennials prefer investing in bitcoin over investing in other assets.