20.5 C
Monday, August 15, 2022

Stimulus Checks Used To Buy Bitcoin Now Return Over $11,000

As of 26th October, Tuesday, the people who had used their April 2020 stimulus checks worth $1200 to buy Bitcoin can sell it for more than $11,000. Since 15th April 2020, Bitcoin’s price has been tracked by BitcoinStimulus.net. This is when American citizens first began getting their stimulus checks worth $1200.

A Profitable Investment Using Stimulus Checks

The website depicts that since 15th April, Bitcoin’s price has seen an increase of more than 800% putting the profit at approximately $11,000.

- Advertisement -

In 2020 March, Donald Trump, who was the President then, approved of the CARES (Coronavirus Aid, Relief, and Economic Security) Act worth $2Tn. These had provided Americans who had qualified with direct stimulus checks amounting to $1200.

By the middle of April, the checks worth $1200 were being sent to individuals whose AGIs were a maximum of $75000, and to married couples whose AGIs were a maximum of $150000. During that time, Bitcoin’s price sat in the range between $6000 and $7000. However, over the previous few months, this price has seen a great increase.

By the middle of July, Bitcoin’s price went past the $10000 mark and kept increasing. By the middle of October, it reached its all-time record high of about $66,974. BitcoinStimulus’s data also calculates the possible profit if anyone had invested every dollar of the stimulus checks should they sell off their shares right now.

- Advertisement -

According to that data, if the total $3,200 from your three stimulus checks were used to buy Bitcoin, it would be worth much more than $13,000 now. This happens because, during December 2020, Bitcoin’s price had fallen to about $28,984. However, it is back to $60,000 once more, at the time of writing.  The previous few months have seen its price fluctuate but government authorities and experts all believe that the cryptocurrency’s price will only continue increasing.

- Advertisement -

Follow Us


Latest news