People who used their first $1,200 stimulus check to buy Bitcoin could have cashed out as much as $11,000 as of this week.
BitcoinStimulus.net has been tracking Bitcoin since April 15, 2020, at the same time as many Americans began receiving their $1,200 stimulus checks approved as part of a package designed to mitigate the economic impact of the COVID-19 pandemic. That reports Newsweek.
The website showed that since April 15, Bitcoin’s price has risen by more than 800%, representing a gain of a whopping $11,000.
Newsweek reported in mid-April 2020 that the average price of Bitcoin was around $6,000-$7,000, but has skyrocketed in recent months. By mid-July, it had passed $10,000 and continued to grow until reaching an all-time high of just under $67,000 in mid-October.
With Bitcoin’s price fluctuating, investing in the second and third rounds of stimulus controls would have yielded less profit. Using the second $600 incentive check for a Bitcoin purchase on December 29, 2020, it would be worth more than $1,000. Using the third $1,400 stimulus check, approved in March this year, would be worth more than $1,500.
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