Convert subsidies into cryptocurrencies?

Apparently a group of Americans thought this was a good option. A few days ago, the United States government issued more than USD 80 million in subsidy checks so that the most affected citizens could cover essential needs, he said. Criptonoticias. Each of these checks was worth $ 1200.

Interestingly, Brian Armstrong, CEO of Coinbase, posted on Twitter that his cryptocurrency exchange had registered numerous purchase and deposit transactions with the same value, $ 1200 billion.


For its part, Binance US also indicated having registered an increase in deposits with this value. The Thursday that passed was the most important day for dollar deposits in Binance US for more than a month.

Although in mid-March, the price of cryptocurrencies registered a significant decline, given the uncertainty caused by the global proliferation of the virus, during the days that passed its price recovered. This extremely particular moment, in which many stocks report minimal earnings, has caused some investors to turn their gaze to another asset class.

The big question, investing in cryptocurrencies as a means of saving? This is an assessment of risk, performance, funds and the investment horizon. The truth is that, until now, the volatility of cryptocurrencies is its basic characteristic, likewise, the great profitability that the first people who decided to bet on cryptocurrencies have obtained. The funny thing is, how is it that money awarded under the subsidy label could have come to investments in cryptocurrencies?

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Marilú Lazo
Lawyer from the Pontificia Universidad Católica del Perú (PUCP). Director of The Crypto Legal Blog, she has experience in corporate advice, consumer protection, as well as in matters of personal data protection and new technologies.


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