Tesla Motors (TSLA) – If you invested your 3 stimulus checks in Bitcoin, Dogecoin or Ethereum, here is how many you would have now
The pandemic stimulus money has been a major factor behind the current boom in stocks and cryptocurrencies.
In 2020, the law on aid, relief and the economy of the coronavirus payments provided $ 1,200 for eligible adults and $ 500 for those with eligible children.
The CARES Act was the first of three rounds of stimulus payments for Americans since March 2020.
The Tax Relief Act of 2020 in December declared additional payments of $ 600 per qualifying adult and up to $ 600 for those with qualifying children.
The American Rescue Plan Act of 2021 last month provided an additional payment of $ 1,400 to eligible adults and up to $ 1,400 for those with eligible children.
Some consumers have used the stimulus payments to help increase their spending or reduce their income due to the pandemic. Others have saved money or invested it.
Here is a look at the return a consumer would have had if they placed their stimulus checks in major cryptocurrencies such as Bitcoin, Dogecoin, and Ethereum as of April 11, 2020; December 29, 2020; and March 12, 2021.
The calculations are based on the stimulus payments of $ 1,200, $ 600, and $ 1,400 for qualifying adults using the highest price for each cryptocurrency traded on the dates Americans started receiving checks.
Related Link: How To Invest In Cryptocurrency With Your Stimulus Check
Bitcoin Check In Stimulus: Investing in Bitcoin (CRYPTO: BTC) with a portion of the stimulus checks may have been a popular option for investors and people looking to store some of the U.S. government payments.
Bitcoin negotiated at $ 6,926 on April 11, 2020; $ 27,370 on December 29, 2020; and $ 57,996 on March 12, 2021. A person who put the $ 3,200 of the stimulus checks into Bitcoin could have purchased a total of .219 of the cryptocurrency. Based on a price of $ 55,375.31 for Bitcoin today, that $ 3,200 is now worth $ 12,127.
Checking the stimulus in Dogecoin: The very cryptocurrency known as Dogecoin (CRYPTO: DOGE) saw its valuation rise sharply in 2021 thanks to strong interest from retail investors and support from famous people like Tesla Inc (NASDAQ: TSLA) CEO Elon Musk.
Dogecoin negotiated at $ 0.0020 on April 11, 2020; $ 0.0046 on December 29, 2020; and $ 0.0570 on March 12, 2021. A person who put the $ 3,200 of the stimulus checks into Dogecoin could have purchased 754,996 of the digital tokens. Based on a price of $ 0.3327 for Dogecoin today, that $ 3,200 is now worth $ 251,187.
Verification of stimuli in Ethereum: One of the fastest growing cryptocurrencies in 2021 is Ethereum (CRYPTO: ETH), thanks to its connection to non-fungible tokens.
Ethereum negotiated at $ 161.17 on April 11, 2020; $ 737.95 on December 29, 2020; and $ 1,839.50 on March 12, 2021. A person who put the $ 3,200 in Ethereum could have bought 9.02 coins. Based on a price of $ 2,157.25 for Ethereum today, that $ 3,200 investment would now be worth $ 19,458.
Related Link: If You Invested $ 1000 In Dogecoin On Jan 1, 2021, Here’s How Much You Would Have Now
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