Young people would be buying shares in companies and cryptomoedas with increased aid
The emergency aid that falls into the hands of young people in the United States turns Bitcoin and company shares, according to Bloomberg. Donald Trump’s government maintained payment of the emergency aid in the country, but reduced it to US$600.00 a month (about R$3,160.00 today).
Due to the new coronavirus pandemic, governments around the world have initiated programmes to stimulate the economy. Among these emergency measures, the payment of aid was seen in several countries.
In Brazil, for example, the government paid out emergency aid instalments until December. However, President Jair Bolsonaro and his team in the economy should no longer pay the benefit in the country.
However, not everyone needs the money for basic expenses, choosing to invest in the future.
Emergency aid turns Bitcoin, stocks and even PlayStation 5 in the US
The people of the United States will continue to receive emergency aid for a few more months. At $600, some young people are already thinking about how they will spend the aid.
This is because, without the need to contribute to household expenses, young people see the opportunity to make investments with the money. In this way, the money could yield for the future, or even allow the purchase of non-essential goods.
According to Bloomberg, the brokerage house RobinHood is one of the preferred stock buyers. One of the young people investing for the brokerage house is Albert Lewis III, who said he does not need the $600 for now.
Without the need for money for essential items, Albert believes that the money could pay out over the years. The young man has shown science that his money will not yield quickly, but he says he wants to have a good reserve for the next 40 years.
The payment of emergency aid in the United States differs from that in Brazil, as it is based on family income. In other words, there are people receiving it even if they don’t need it.
Bloomberg also highlighted the case of the entrepreneur Hailey Wiggins, 25. She said she sees with concern this flood of money in her country’s economy. Still, she said she will take only 10 percent of the money to spend, with 30 percent to go to cryptomorphs and the other 60 percent to corporate shares.
Young George Takam Jr., 22, a Maryland resident, wants to buy a PlayStation 5. He said that although it is not an essential asset, it is his personal wish that will be fulfilled by emergency assistance.
Some of the country’s economists have suggested that people take care of this lovingly found money. The suggestions range from saving to investing the money, always with a conscience.
Cases show that people have already gone between heaven and hell by buying Bitcoin with aid
Although some young people in the United States are converting emergency aid to Bitcoin, some recent cases draw attention. In July 2020, for example, a man was arrested after buying Bitcoin with the aid received at his company.
Despite this, other investors, who acted correctly with the money, made a good profit. According to the BitcoinStimulus website, those entitled to the first tranche of the emergency aid in the United States received $1,200. Whoever bought this amount in Bitcoin would today have received $6,210.00, or a gain of 418% on the investment.
The website tracks the income of those who bought Bitcoin on 15/04/2020 with the $1,200 of emergency aid in the United States
Website tracks the income of those who bought Bitcoin on 15/04/2020 with the $1,200 of emergency aid in the United States – BitcoinStimulus
Those who bought Bitcoin on December 29, 2020, with the U$ 600.00, already recorded gains of 23%. This high valuation may be the cause that attracts new investors, especially younger ones.