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When Democratic presidential candidate Andrew Yang proposed a Universal Base Income (UBI) of $1k per month for all Americans, he was scoffed at by most of his rivals. Now, just a month after the numbers guy pulls out of the race, the Trump administration is sending checks to all U.S. citizens. What would happen if they all used them to buy bitcoin?

Its uncanny just how much your life can change in a short period of time. For most of us in the crypto space, were used to being flung into rapidly shifting panoramas from one day to the next.

But now thats extending to the real world theres a distinct feeling that the apocalypse is near. All we need is for the four men to come charging in on horseback and well pretty much have it confirmed.

Tell the U.S. public even two weeks ago that the Trump administration would start sending checks to every American and they would have spat out their Starbucks.

But now the Republican president is effectively following Andrew Yangs UBI policy (under another name). To be sure, they arent saying UBI, just as they arent calling it COVID-19 but the Chinese virus but it certainly looks a lot like it. Secretary of the U.S. Treasury Steven Mnuchin said:

You can think of this as something like business interruption payments Were looking at sending checks to Americans immediately Americans need cash now.

These are unprecedented times indeed. And the money printer is getting overheated. As Europac CEO Peter Schiff commented, it looks as if Yang didnt lose the idealogy fight after all:

OK, so this is a bit of a reach, but we all need something joyful to think about during these dark times. Just for laughs, lets take a look at what one bitcoin trader posted to Twitter. He said:

If every American gets $1000 and buys $tc, they can send it to $23k

That would be extremely cool indeed. Although, according to one follower Ash Ketchum, his numbers are a little off. In fact, based on the fact that there are 300 million Americans and they all spent $1k on BTC, that would give Bitcoin a final price of $21.9k.

$21.9k would push bitcoin past its all-time high just shy of $20k. So Trumps business interruption payments could give cryptocurrency a boost like never before. And maybe aliens will descend on the planet and pigs will fly past the window.

Yet, who knows? Were living in a different world than we were before. One in which helicopter money (UBI) can be triggered just from printing paper and BTC could go to zeroor spectacularly moon instead.

Do you think this free money scheme will boost bitcoin price? Add your thoughts below!

Images via Shutterstock, Twitter @KetchumAlts @TrustlessState @Peterschiff

See the rest here:
What Bitcoin Price Would Be If Every American Invested $1K - Bitcoinist