Americans Who Reinvested Stimulus Checks in Bitcoin Made $ 4.5K Profit

Colombia, Distrito Capital de Bogotá, Bogotá

Published 3 years ago

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Americans Who Reinvested Stimulus Checks in Bitcoin Made $ 4.5K Profit

Colombia, Distrito Capital de Bogotá, Bogotá,

Published 3 years ago

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The average American taxpayer received three rounds of stimulus checks from the United States government as a means of reviving the economy by increasing the potential for consumer spending. For many, this meant an opportunity to invest in Bitcoin (BTC).

A report from Aug. 26 shows that 11% of respondents between the ages of 18 and 34 reinvested a portion of their stimulus checks in cryptocurrency. Adult Americans who reinvested the April 2020 first round of stimulus payments into Bitcoin have made a net profit of approximately 442%, turning a $ 1,200 investment into $ 5,304 as of Oct. 31, 2021.

Stimulus Checks Worth Investing In Bitcoin Despite Existing Needs, Survey Indicates

The second $ 600 stimulus check was distributed between December 2020 and January 2021, just two months before Bitcoin first hit an all-time high of $ 65,000. If reinvested in Bitcoin, the second check would return a profit of 152% (approximately $ 312).