A survey conducted by Fusion found that 17% of Americans have put their stimulus check into Bitcoin. With the price of bitcoin dropping from its all-time highs, people who invested in cryptocurrency early on made a significant amount of money off this investment.
The “if i invest $100 in bitcoin today 2021” is a blog post written by an American who made 4.5k profit from investing their stimulus checks into Bitcoin.
The US government sent three rounds of stimulus cheques to the typical American taxpayer in order to re-ignite the economy by raising consumers’ purchasing power. Many others saw this as a chance to invest in Bitcoin (BTC).
According to a Cointelegraph story from Aug. 26, 11% of respondents aged 18 to 34 re-invested a portion of their stimulus cheques into cryptocurrencies. Adult Americans who reinvested the first wave of stimulus money into Bitcoin between April 2020 and October 31, 2021 made a net profit of nearly 442 percent, converting a $1,200 investment into $5,304.
The second $600 stimulus check was sent out between December 2020 and January 2021, barely two months before Bitcoin hit a new all-time high of $65,000. The second check, if reinvested in Bitcoin, would provide a profit of 152 percent (about $312).
The average payout for the third stimulus check was set at $1,400, with payments beginning in March 2021 for qualified taxpayers. Since then, Bitcoin has had a three-month bear market before fully recovering to reach a trading value of $65,000 for the first time. Despite the volatility, reinvesting the third stimulus check in Bitcoin at the time of writing would provide a tiny 7 percent profit, or $98.
Based on the results above, reinvesting $3,200 in stimulus cheques into Bitcoin by the end of October would provide a total profit of $4,514 (almost 71 percent). According to a survey done on behalf of Yahoo Finance by Harris Poll, the majority of Americans eager to invest in cryptocurrencies are particularly interested in Bitcoin and Ether (ETH).
For the third month in a row, crypto expert PlanB’s forecast on Bitcoin has come true.
July>47k August>43k September>43k Next goals: 63k in October, 98k in November, and 135k in December. pic.twitter.com/C45nfQkQSC
— October 1, 2021, PlanB (@100trillionUSD)
Bitcoin is expected to reach $98,000 in value by the end of November, according to PlanB. If the forecast proves correct, the stimulus check investments will benefit by 58 percent from today’s market pricing.
El Salvador purchases a smokin’ hot 420 more Bitcoins
El Salvador declared Bitcoin a legal money on September 7th, and has since begun reinvesting its US dollar reserves in Bitcoin purchases.
On Oct. 28, President Nayib Bukele announced the addition of 420 Bitcoin to the national reserve, raising it to 1,120 BTC, worth $87.4 million.
It had been a long wait, but it was well worth it.
We’ve just recently purchased the dip!
420 new #Bitcoins have been created.
October 27, 2021 — Nayib Bukele (@nayibbukele)
Bukele claims that whenever the nation achieves a return on its Bitcoin investment, an equal amount from its dollar reserves is re-invested to finance other activities. As a consequence, the overall value of El Salvador’s national reserves in terms of the US dollar remains unchanged.
The “stimulus check bitcoin twitter” is a tweet that shows how Americans reinvested their stimulus checks in Bitcoin and made $4.5k in profit.
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