The $1,200 stimulus check is exchanged for Bitcoin

Since the arrival of the first $1,200 stimulus checks, we have seen a movement that is indicative of a loss of confidence in the U.S. dollar. More and more Americans are using their stimulus check to buy Bitcoin.

Last week, Brian Armstrong, the CEO of Coinbase, shared in a tweet a graph showing an increase in trades of exactly $1,200 on his platform:

A spokesperson for Binance US also confirmed that the other big trading platform has seen a spike in deposits of exactly $1,200 recently:

“People do seem to have deposited exactly $1,200 into Binance US in the past couple of days.”

— Binance US

Many of the Americans who use their stimulus check to buy Bitcoin are disappointed in the monetary and financial system. They want to try another way.

Bitcoin is the best existing alternative to the fiat system.

In fact, now is the perfect time to buy Bitcoin with fiat money that is magically given to you. Indeed, the third Bitcoin Halving is scheduled to happen in less than 20 days from now.

This Bitcoin Halving will cause a real shock on the Bitcoin supply which will highlight the virtues of quantitative hardening. In contrast to the quantitative easing practiced by the Fed and other central banks, quantitative hardening strengthens the value of yours Bitcoins over time.

Combined with an increase in demand, this supply shock will cause a very strong bull market in the Bitcoin price in the coming months.

Exchanging this stimulus check for Bitcoin is therefore a totally justified choice. This choice is all the more justified because by keeping this $1,200, you are guaranteed that it will be worth much less in the future.

With Bitcoin, it’s totally different.

Of course, you are not certain that the Bitcoin price will rise in the future, but at least it is a possibility that exists to a large extent. With the U.S. dollar, that possibility has not existed for a long time.