Those who purchased Bitcoin with their $1,200 stimulus checks in April of last year, could cash out for over $11,000 as of Tuesday.
BitcoinStimulus.net has been tracking the price of Bitcoin since April 15, 2020, when Americans began receiving their $1,200 stimulus checks. The website shows that since April 15, the price of Bitcoin has increased by over 800 percent, indicating a profit of around $11,000.
In March 2020, then-President Donald Trump signed the $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act, which provided eligible Americans with direct checks worth $1,200.
By mid-April, the $1,200 checks were sent out to those with a gross adjusted income of $75,000 or $150,000 for married couples. In mid-April, the price of Bitcoin ranged around $6,000 to $7,000 but this number has since increased greatly over the past several months.
In mid-July, the price of Bitcoin surpassed $10,000 and continued to increase and eventually reached an all-time high of approximately $66,974 in mid-October.
Data from BitcoinStimulus also shows the potential profit those who invested all three of their stimulus checks could make if they decided to sell their shares today.
In December 2020, Congress passed a second COVID-19 economic relief package worth $900 billion. The second relief package sent out direct $600 checks to eligible Americans among other economic aid aspects.
BitcoinStimulus data shows that a $600 purchase of Bitcoin on December 29, 2020, would now be worth over $1,000 as the price of the world’s most popular cryptocurrency has continued to increase. By December 31, the price of Bitcoin reached approximately $28,984, according to CoinDesk.
In March, a third round of stimulus checks worth $1,400 were approved by President Joe Biden for eligible Americans. According to data from BitcoinStimulus, if you used your $1,400 stimulus check to purchase Bitcoin on March 16, it would now be worth over $1,500. Data from CoinDesk shows that on March 18, the price of Bitcoin reached roughly $57,684.
According to data from BitcoinStimulus, if you invested all three of your stimulus checks, which totaled $3,200, they would now be worth over $13,000 as the price of Bitcoin has skyrocketed in recent days, reaching over $61,000 as of publication time.
Over the past few months, the price of Bitcoin has fluctuated in price, reaching over $60,000 in March and April, falling to $30,000 in July and then eventually rising back toward $60,000 in October.
The change in Bitcoin’s price was in part due to a ban on cryptocurrencies in China. Despite the ban in China, earlier this month, U.S. House, Securities and Exchange Commission Chair Gary Gensler said that the commission was not going to place a ban on Bitcoin and other digital currencies.
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