Every American earning less than $75,000 a year will receive $600 in their bank account as soon as next week.
Couples earning less than $150,000 are to receive $1,200 while children will receive $600 each too.
Senate Minority Leader Chuck Schumer, a New York Democrat, said on Sunday that this is “just a first step.”
“This is an emergency, we need a second bill to continue dealing with the emergency and to start stimulating our economy so we get back to where we were and that will be job number one in the new Biden administration.”
The $900 billion stimulus has passed Congress with it now awaiting Trump’s signature that begins the biggest giveaway in history.
Last time such $1,200 checks were handed out bitcoin was at $7,000. Bitcoin then rose considerably as the number of Coinbase deposits for precisely $1,200 saw a huge spike (pictured above).
That turned out to be a good investment as bitcoin has risen more than 3x since, with it testing $24,000.
However whether Americans will again turn their free money into bitcoin remains to be seen, but they all will be richer by $600 this Christmas, and presumably the dollar will keep falling in value as new money floods in from Washington DC.