A Twitter account called “$ 1200 stimulus is worth now” tracked how much the first $ 1200 stimulus would be worth if you had invested in Bitcoin when the funds were sent out on April 15, 2020.
The passing of the first $ 1,200 boom in April last year marked a major uptrend in the cryptocurrency and stock markets.
Bitcoin was trading at $ 6,848 on April 15, and if you had invested the $ 1200 stimulus it would now be worth $ 10,211 at today’s prices of around $ 56,000. The return on investment is 751%
You would have over $ 10,000 if you bought #bitcoin with your stimulus check.
Check https://t.co/jckMs158A2 for live updates. pic.twitter.com/TXp2HnOpEc
– $ 1200 stimulus is worth now (@BitcoinStimulus) March 10, 2021
And if you somehow neglected to invest the first stimulus check in Bitcoin, the second stimulus of $ 600 launched in late December would still have given you a decent return. If you had bought Bitcoin for around $ 29,000 on Jan. 1, that investment would have grown from $ 600 now to around $ 1,160 – a 93% return.
A third incentive is on the way after the U.S. Senate approved the launch of a $ 1.9 trillion aid package on March 6, which will pay out $ 1,400 to eligible Americans.
To get the same returns from the third stimulus, the price of Bitcoin would have to rise gigantically. If you want to repeat a 751% return, the price of Bitcoin must reach $ 476,000. With a 93% return on this stimulus, Bitcoin would hit $ 108,000.
In the short term, many institutes believe that it is possible to move Bitcoin beyond USD 100,000 in 2021. Earlier this January, Nikolaos Panigirtzoglou of JPMorgan Chase’s strategy team claimed that Bitcoin could be more than $ 146,000 by the end of 2021, as he believes Bitcoin will overtake gold as a hedge and long-term store of value for investors.
According to a survey by Grayscale Investments conducted from June to July 2020, COVID-19 has increased investor interest in Bitcoin. The company surveyed 1,000 investors between the ages of 25 and 64 with personal investments of $ 10,000 or more.
The survey found that the pandemic affected the decisions of 63% of respondents who had invested in Bitcoin in the past four months.
The whole point of the story is that if you had invested the first stimulus check in Ethereum on April 15th, you would have outperformed your Bitcoin counterparts. If you had invested $ 1200 in Ethereum at this point, you would have come to 7.5 ethers, which at today’s prices is around $ 13,500, an increase of 1025%.