It’s been more than five years since the US government issued its first $1,200 Covid-19 stimulus check. For many Americans, money was used on bills, groceries, or other essentials.
But if you invest these funds in Bitcoin and hold them without selling them, you’d be sitting at a total worth about $21,617 today.
The figures are based on the first handouts provided under the Coronavirus Aid, Relief and Economic Security (CARE) Act. If Bitcoin had invested $1,200 while trading about $6,642 on April 15, 2020, he would have got about 0.18 BTC.
Today, with Bitcoin prices exceeding $120,000, that same holding will grow exponentially and likely continue to go higher.
The story becomes even more interesting given the subsequent stimulus packages. Some Americans received two additional checks: $600 in January 2021 and $1,400 in March 2021.
If someone invests all three payments for a total of $3,200 near the day they arrive, depending on the timing and BTC price movements, today’s Bitcoin Holding could easily surpass $50,000.
Regardless of where you buy, those who have been held through market volatility, including multiple priced dips and spikes, are rewarded brilliantly.
From Bitcoin to $150,000?
The surge in Bitcoin value over the past five years has been a combination of institutional adoption, increased mainstream acceptance, and macroeconomic conditions that have pushed investor interest to crypto and Bitcoin.
It is now October, and seasonal patterns suggest that early quarter strength is particularly important for the rise in Bitcoin price action. Since 2015, October has produced an average profit of 21.8%, but November added 10.8%, according to data from Bitcoin Magazine Pro.
If the same pattern is repeated this year, Bitcoin will be able to clear past $150,000 by the end of the year.
In addition to that, Citigroup analysts have bolstered Bitcoin’s positive 12-month outlook in a note to client this week, setting a Bitcoin goal of $181,000 while revising its year-end forecast to $132,000.
The bank cited a robust inflow, estimated at $7.5 billion by the end of the year, and increased demand from institutional investors.
“Compared to ether, it’s more positive in Bitcoin, because it captures a large part of the incremental flow into the crypto market,” wrote a city analyst.
Source: https://bitcoinmagazine.com/markets/your-covid-stimulus-check-would-be-worth-1700-more-if-you-bought-bitcoin
