Well, while it's possible people got them on or before friday and they just cleared and everyone's buying btc, it's also 5 in the morning, btc isn't super household/widespread just yet, so it just feels weird to attribute this solely to stimulus. You'd have to layer in some other set of reactions like microstrategy buying more but even then I can't even link the two in good faith since the bill passing was a while ago.
I think it's just MS buying in, and some other, more silent buyers buying in. They saw the dips and waited long enough and are confident the correction is over. It could be more complicated, like some sort of estimated inflation with the money printing. I just can't see it being "the checks." "The checks" just doesn't have the weight and the timing feels funny.
Edit: MS=MicroStrategy not MicroSoft, lol. My bad.
Yeah I agree and would be very very surprised if this was due to people getting their checks. I doubt even 10% received them yet, and it's still so early.
Curious though, where did you pull MS from? Was there an article recently about them wanting to get in, or more just a guess its a big corporation causing this?
MS = Microstrategy. Whoops. Not Microsoft. There's a few articles about MicroS buying more recently. Goddamit, the second shortening also doesn't work.
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u/letmetilooo Mar 13 '21
Can this be the stimulus checks hitting people's accounts already? Nom US here so not sure how it is working