Stimulus Checks, Pandemic, Crypto, and FOMO

A new :/ $1.9 :/ trillion dollar stimulus package is on the verge of being passed to help Americans get through the remainder of :/ Covid-19 :/ . The last hurdle seemed to be unemployment benefits. The other major relief grabbing headlines is the $1,400 stimulus check.

_{image from pexels by Karolina Grabowska}

Most officials and outlets adhere to the idea that the latest stimulus check should arrive in the same time frame as the last ones. Some received the previous $600 within days via direct deposit.

Within days, the federal government began deploying the money.

Mainstream media expects the new $1,400 checks to follow suit. Of course the appropriate government agencies will need to take the ball from DC.

Will checks start arriving before the end of the month?

AS.com compiled bullet points for March 6. Here are the takeaways for new checks

• Stimulus check of up to $1,400 approved by House, looks likely to stay in Senate version
• Stimulus bill could be done and dusted as early as 14 March

If one's taxes and bank statements are in order, a direct deposit should flow smoothly. Checks seem to remain on schedule with the initially reported mid-late March dispersal.

FOMO Spikes and the Connection to Stimulus Packages

Last October, CoinDesk reported on the connection between stimulus packages and FOMO:

The FOMO instinct might be especially strong as the coronavirus-infected economy relegates Wall Street stock and bond traders to hoping for trillion-dollar stimulus packages just to keep asset prices from falling.

Bitcoin appears to get uplift from new stimulus announcements, since many cryptocurrency investors see it as a hedge against inflation....

How Might this All Turn Out this Time Around?

Speculating that the influx of stimulus checks will go to crypto should prove true to some degree. Many individuals need the money to pay off bills. However, with more payment channels for crypto and increased awareness of its importance, the influx of money should at least encourage more people to explore the crypto option.

Temporary stimulus checks are NOT the answer for crypto or blockchain technology. AWARENESS is, however. If that's all that comes out of the stimulus' influence upon crypto, then it will have done its job.

_{initially published here}


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