Stimulus Control Update: Bitcoin Investors Got Big Returns

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If you bought Bitcoin with your $ 1,200 stimulus check in April 2020, you would get a windfall of almost 10 times your return as of Thursday.

BitcoinStimulus.net has been tracking the price of the cryptocurrency since April 15 of last year, around the same time that most Americans started receiving their stimulus checks, and according to the website, the price has increased by 822%, showing a profit of approximately $ 11,000. .

So how did most Americans get this round of stimulus checks last year in the first place?

In March 2020, former President Donald Trump enacted the $ 2,000 billion CARES (Coronavirus Aid, Relief, and Economic Security) law. This law gave eligible Americans direct checks worth $ 1,200, if they earned up to $ 75,000 filing taxes as a single person or $ 150,000 filing jointly.

There was also a second set of stimulus checks valued at $ 600 passed by Congress in December 2020 and a third set of stimulus checks valued at $ 1,400 approved by President Joe Biden in March. .

The price of Bitcoin has gradually increased from around $ 7,000 to $ 8,000 in mid-April to an all-time high of $ 66,974 in mid-October. To invest, you don’t need to buy an entire Bitcoin, you can buy just a fraction of it.

According to data from BitcoinStimulus, if you invested the $ 3,200 in bitcoin stimulus checks, they would now be worth around $ 13,000, an increase of 330%.

Bitcoin is currently the largest cryptocurrency and the first to be widely adopted, according to Coinbase. It was created in 2008 by Satoshi Nakamoto, a pseudonymous person or team.

Cryptocurrency is a digital asset designed for use on the internet, according to Coinbase. It is decentralized, which means that it is not controlled by the government or any other central authority such as a bank.

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