You’d have $10K now if you’d invested April’s stimulus in Bitcoin — and more with ETH

A Twitter account named “$1200 Stimulus Is Now Worth” has been tracking how much the first US $1200 stimulus would be worth if you invested in Bitcoin when the funds were sent out from April 15, 2020.

The passing of the first $1200 stimulus bill in April last year corresponded with a huge bull run in the cryptocurrency and stock markets.

Bitcoin was sitting at $6,848 on April 15, and if you had invested the $1200 stimulus then it would now be worth $10,211 at today’s prices of roughly $56,000. The return on investment is 751%

And if you’d somehow missed out on investing the first stimulus check into Bitcoin, the second stimulus of $600 rolled out in late December would still have given you a decent return. If you had purchased Bitcoin on Jan. 1 at roughly $29,000, that $600 investment would have now grown to be worth around $1,160 — a 93% return.

A third stimulus is on the way after the U.S senate approved the rollout of a $1.9 trillion relief package on March 6, which will see $1,400 paid out to eligible Americans.

To see the same returns from the third stimulus, you’d need to see a gigantic increase in Bitcoin’s price. If you were looking to repeat a 751% return, Bitcoin’s price would need to reach $476,000. A 93% return on this stimulus would see Bitcoin hit $108,000.

In the short term, many institutions believe Bitcoin moving past $100,000 in 2021 is achievable. Earlier this year in January, Nikolaos Panigirtzoglou from JPMorgan Chase’s strategy team, claimed that $146,000-plus could be possible for Bitcoin by the end of 2021, as he foresees Bitcoin overtaking gold as a hedge and long term store of value for investors.

According to a survey from Grayscale Investments conducted in June-July 2020, COVID-19 has increased investor…

Read More