Americans buying crypto with Stimulus money? Are Americans buying crypto with the 1200.00 coronavirus stimulus checks? Brian Armstrong seems to think so.
A tweet, published by Armstrong on April 17, shows that the percentage of deposits and buys worth $1,200. Coincidentally, $1200 is the exact value of the stimulus check that was sent to Americans earlier this week. The data that Armstrong cites does not suggest it’s from Coinbase, but given his position at the company, it is likely that’s where the data came from.
The surge of $1,200 deposits and buys rising this week makes the stimulus checks the most likely source of the funds.
The stimulus checks are meant to ease the economic hardship currently undergone by US residents who have lost their jobs or are seeing reduced income amidst this economic disaster due to the COVID19.
Many industries that are customer-facing have closed to help stop the spread of the Coronavirus. These closures have left many Americans without a source of income.
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