Cleveland Fed: COVID-19 Stimulus Checks Fueled ‘Modest’ Jump in Bitcoin Price Last Year

Name: Cleveland Fed: COVID-19 Stimulus Checks Fueled ‘Modest’ Jump in Bitcoin Price Last Year
Uploaded: 2021-07-19T23:03:29Z
Duration: 6 min 367 s
Description: The Federal Reserve Bank of Cleveland reported Friday only 0.02% of COVID-19 stimulus checks ended up in bitcoin, saying the relief funds fueled a “significant but modest effect” in bitcoin trading volume and price. “The Hash” panel digs into the data, discussing the role of crypto as a potential store of value.

Jul 19, 2021

The Federal Reserve Bank of Cleveland reported Friday only 0.02% of COVID-19 stimulus checks ended up in bitcoin, saying the relief funds fueled a “significant but modest effect” in bitcoin trading volume and price.

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