If i were an American and financially stable, why not.
But it's more likely people (who are financially stable) will spend their $1200 on non-essential goods rather than investment since people already have mindset it's bad time to do any investment.
It sounds good on paper, but you don't know what's going to happen when a recession comes, if you're going to keep the same job, or if you're going to have enough savings to withstand a long period of unemployment. ECT.
In my opinion, I think that investing in BItcoin with all the crazy things that central banks are doing is a zero risk bet.