The post Bitcoin could have turned your $1,200 stimulus check into $14,000 appeared on BitcoinEthereumNews.com.

Bitcoin is at an all-time high of $82,100 at press time — meaning that, if you were to have bought bitcoin with the $1,200 stimulus check given by the US government during COVID-19, you would have over $14,000 today. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) handed single adults up to $1,200 back in March 2020, and $500 for qualifying children. By April 15, 2020, most qualifying Americans had received their stimulus checks. So, presuming you’re a single adult who invested all $1,200 in bitcoin on that day — when BTC was worth up to $6,910 — you would be up at least a whopping 1,088%. Click to enlarge. Read more: How much bitcoin will Ross Ulbricht have if Trump sets him free? Federal lawmakers provided Americans with two more rounds of stimulus checks. Enacted in December 2020, the Tax Relief Act gave up to $600 to eligible adults and up to $600 for children. By January 15, 2021, most of these had been sent. You would be up 106% if you had put your $600 stimulus check into bitcoin (worth $39,856 at peak) that day, with a bag of at least $1,236. The American Rescue Plan was put into law in early March 2021, and it similarly provided up to $1,400 to adults. On May 26, when most had received this payout, bitcoin was worth up to $40,556. You would still be sitting pretty with a 102% gain and a total of $2,828. It should be noted that many Americans received their stimulus packages earlier. Given bitcoin’s constant fluctuations, this could significantly alter your gains. However, imagining that you qualified for all three care packages as a single adult, and that you had put all $3,200 into bitcoin on those days at those peak prices, you…

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Filed under: News - @ November 11, 2024 2:28 pm