A Twitter account called Incentive $1200 is currently tracking the value of the first $1200 incentive if you invest in bitcoin when the funds are released since the 15th. April 2020 have been sent.
The passage of the first $1,200 stimulus bill in April coincided with a huge bull market in cryptocurrencies and equity markets.
The 15th. In April, bitcoin was at $6,848, and if you put in a premium of $1,200, it would now be worth $10,211, at the current price of about $56,000. The return on investment is 751%.
You’d have over $10,000 if you bought #bitcoins with your incentive check.
Visit https://t.co/jckMs158A2 for live updates pic.twitter.com/TXp2HnOpEc
– A $1200 incentive is worth it now (@BitcoinStimulus) March 10, 2021
And if for some reason you missed the opportunity to invest the first incentive check in bitcoin, the second incentive check of $600, which will be issued in late December, would still provide a decent return. If you used bitcoins on January 1 at a price of about $29,000, that $600 investment would now be worth about $1,160, or a 93% return.
A third stimulus package is on the way after the US Senate vote on the 6th. In March, it approved the launch of a $1.9 trillion bailout package that will pay $1,400 to Americans who qualify.
To make the same profit with the third stimulus, the price of bitcoin must rise significantly. If you wanted a repeat return of 751%, the price of bitcoin would have to reach $476,000. With a return of 93%, bitcoin will reach $108,000.
In the short term, many institutions believe that bitcoin could pass the $100,000 mark by 2021. Earlier in January, Nikolaos Panigirtzoglou, head of strategy at JPMorgan Chase, said bitcoin could reach $146,000 or more by the end of 2021, as he expects bitcoin to surpass gold as a long-term hedge and store of value for investors.
According to Grayscale Investments’ June-July 2020 study, COVID-19 has increased investor interest in bitcoin. The company surveyed 1,000 investors between the ages of 25 and 64 with personal investments of $10,000 or more.
The survey found that the pandemic affected the decisions of 63% of respondents who invested in bitcoin in the past four months.
The catch is that you get your first reminder on the 15th. April in Ethereum would have outperformed your Bitcoin counterparts. If you invested $1200 in Ethereum back then, you would have received 7.5 Ether, which is worth about $13,500 at today’s prices, an increase of 1025%.
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