Stimulus 2021: How will Crypto Be Affected by Ossoff and Warnock Win in Georgia Senate Race?

As a college student, I am quite used to having my needs overlooked by pretty much everyone. Not only am I drowning in debt for learning more or less nothing useful, but I am also still claimed as a dependent on my parents tax returns. Normally, this may not be such a big deal. However, 2020 showed me just how unlucky this would prove to make as I was skipped over on not just the $1,200 stimulus check, but also the more recent $600 one.

That being said, with the Democrats winning the run-offs in Georgia, it now seems likely that my fortunes will change and I will find myself receiving a $2,000 if promises are kept by lawmakers (for sure not a guarantee). Ossoff and Warnock were the two votes needed to flip the majority of the senate and allow for a vote on the $2,000 checks. Though this is continuing to prove itself in my mind as a failing and poorly constructed system, it is our reality for now. Information on this can be found here: https://www.washingtonpost.com/us-policy/2021/01/06/georgia-election-2000-stimulus-checks/

Now I am not a financial expert, but I do understand basic supply and demand. If hundreds of millions of Americans will be receiving $2,000 checks, it is a safe bet that prices will inflate a bit at stores and the spending power of the dollar will take a hit. I am aware that the stimulus is essentially an advance on some tax credits, but basic human psychology tells me that business owners and corporations will hike up prices to capitalize on opportunity.

If the value of the dollar is going to be decreasing, Americans may seek a refuge for their assets. To me, this seems like the perfect storm for crypto to get a massive boost. With one of the worlds most powerful currencies losing steam in the global marketplace, maybe more people will begin to question the power and validity of fiat. Additionally, since we still value cryptocurrency based on its worth in fiat, the weakening of fiat would seemingly lead to an increase in the 'price' of crypto; perhaps this would be another psychological factor to push adoption forward.

I will be immediately investing as much of my stimulus check into crypto as I am able to afford. Comment below if you agree or if you disagree! I am not an expert and would love to know whether or not my hunches have any merit.

//Note: These are all speculations and are most definitely not financial advice of any kind.//

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