Not following you ...
You are saying your bank will let you configure your direct deposit to take 5% of what comes in and forward it on to a different bank (i.e., your Cash App routing and acct #)?
Oh, I see.
Sure, that's makes sense!
With the IRS / stimulus payment, this won't help though as they only permit one routing + acct, for 100% of the payment. But for that you can still use Cash App, and spend the USD using the Cash App debit card, or you can then withdraw USD to your linked bank account, to forward on the amount remaining that you didn't put into bitcoin.
Is this British terminology? I've heard only, "allocate a percentage." Maybe regional slang? I had no idea and read the sentence to a buddy across the table and he also had no idea. Makes sense now that you said that. But only 5% towards bitcoin? $60 doesn't sound too daring, but we all take one step at a time. Sometimes the car payment or the power bill takes precedence.
Of course, this assumes you'll have the identity verification/KYC performed before you have funds and want to buy bitcoin. But once that payment hits your Cash App account, you can be have bought bitcoin and withdrawn to your own wallet in minutes!!
Take a person that was earning $10 an hour and then got laid off. That person is now receiving a good part of that amount (e.g., 60%, maybe more) in unemployment -- depends on the state, and then is receiving $600 / week on top (aka "unemployment on steriods").
That person just doubled their take home pay. Oh, and sitting tight at home, aren't spending hardly anything.
Yes, ... **some** people are going to have excess funds, and may decide to speculate on bitcoin with some of that.