US Citizens Could Have Had Almost $9,000 From BTC With First Stimulus
It was back in April of 2020. The COVID-19 pandemic was in full swing, and the world’s economy and crypto space were monumentally crippled. The US government, in a bid to keep its citizens from going bankrupt, gave out a stimulus check of $1,200, the first of its kind for the US. Should some keen-minded individual have come to invest this stimulus in its entirety in Bitcoin at that time, they would’ve gained a profit of $8,500, showing a 600% increase in their investment.
$1,2000 Can Be Stretched Pretty Far
This shows a spectacular amount of growth with less than a year’s investment time, but the amusing part is this was the lesser investment someone could’ve made. Should that same amount of money be invested in Ether at that time, the interest rate would’ve spiked to more than 1,000%.
Last year, the US government was forced to give any US citizen making less than $75,000 a year a stimulus check of $1,200, with people starting to receive that money back in April of 2020.
BTC Seeing over 600% In Profit
As one would imagine, an economically-ravaged America had the receivers of these stimulus checks pour it into necessities, but some opted to do something riskier, maybe even stupid at the time: Invest all of it into some asset, such as Bitcoin.
Now, this caused a Twitter profile to be born, constantly tracking what this original stimulus would be worth if someone invested it directly into BTC. At the time, a $1,200 investment would’ve allowed a user to gain around 0.18 BTC, and would now be worth somewhere around $6,600 and $6,800
Ethereum Giving Back $13,500 From Investment
As for Ethereum, which was even riskier at the time, it held some very interesting profits. A $1,200 check at the time could’ve bought these investors a hefty 7.5 ETH. At the time of investment, these were worth around $155 to $161 apiece. Now, however, this same investment could be worth as much as $13,500. This attributes to a 1,025 interest rate for ETH holders.
Last year in April was a very disruptive time to be alive. Indeed, it seemed like the world is still only recovering from the chaos of the pandemic. The choice of investing in an asset with the little money you had left after losing your job was, quite frankly, one that seemed stupid.
Many people would’ve just used the money and tried to survive in the here and now. Anyone that didn’t and flung all that money into crypto either had the ability to sustain themselves or is just plain insane. For once, that level of insanity really seemed to pay off.