Data shared by Brian Armstrong, CEO of the popular US-based cryptocurrency exchange Coinbase, shows that some of the Americans bought cryptocurrencies with the cash they received from the government as part of the economic support package.
Armstrong posted a $ 1200 deposit and purchase rate on Coinbase in a post on his personal Twitter account the day before. Accordingly, this amount of deposits and purchases has more than quadrupled recently.
As it is known, the US government recently provided $ 1200 in cash support to each American citizen to alleviate the economic strain caused by the coronavirus. Low-income Americans who do not make a tax return can also benefit from cash assistance. In addition, parents can receive an additional $ 500 per child. The demand for these aids is huge. So much so that the servers of some banks could not handle the density and collapsed.
The total size of the planned incentive package was $ 2.2 trillion. Supports allowed the world stock markets to breathe and positive trends were observed in all world stock markets, especially the US markets.