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If you bought Bitcoin with your $1,200 stimulus check in 2020, you would now have that much
Four years ago, American citizens received $1,200 stimulus checks from the government to help them recover from the crisis. financial losses suffered during the Covid pandemic, and invest this money was among the popular choices for check recipients.
Indeed, the United States Internal Revenue Service (IRS) had issued stimulus checks, or economic impact payments, under the Coronavirus Aid, Relief and Economies Act (CARES), and the first round s The cost was $1,200 (and $500 more for each child). ).
Investing in Bitcoin
For those who have chosen to invest their $1,200 Bitcoin stimulus (BTC) at the time, this would have been an exceptionally lucrative move, given the price of the flagship of decentralized finance (Challenge) the asset had increased by almost 884% since mid-April 2020, when it stood at $6,965.62.
Bitcoin price on April 13, 2020. Source: CoinMarketCap
In other words, invest $1,200 in Bitcoin while its price was around $6,966, that would mean that today the investor in question would own almost $11,808 of the top stock. cryptocurrencyoffering them a large profit if they choose to sell it at the current price.
Bitcoin Price Analysis
Currently, Bitcoin is changing hands at a price of $68,540, which suggests a slight decline of 0.88% over the past 24 hours but still an increase of 2.52% over the previous seven days and a gain of 8.92% over the past month, adding up to this year’s gain of 62.35%, according to data as of May 27.
Meanwhile, Bitcoin whales appear to be back in the sea of cryptocurrencies, as they have recently started showing significant buying activity, reflecting the confidence of larger holders in the crypto future price of the asset and signaling a resurgence of bullish sentiment in the sector, like Finbold reported on May 25.
All things considered, investing in Bitcoin when the government began issuing stimulus checks in April 2020 would have been exceptionally profitable, and some indicators point to further price increases for the world’s largest asset. crypto market in the years to come.
Disclaimer: The content of this site should not be considered investment advice. The investment is speculative. When you invest, your capital is at risk.