The First US Stimulus Check Would Have Hit $9000 If Invested In BTC

The first US stimulus check would have hit $9000 if it was invested in BTC in the first place which marks a return of over 620% so let’s read more in our latest BTC news today.

A bitcoin investment worth $1200 following the first US stimulus check that was sent by the US government in 2020 would have skyrocketed more than 600% to about $9000 today. Although this is a huge growth in less than a year, the same investment put in ETH could have presented a better ROI of 1000%. The US government initiated a drastic measure in 2020 to sent stimulus packages to the US citizens due to the COVID-19 pandemic which caused extreme hard conditions for the businesses and the personal finances of the people.

Following the initial deal that the former president Donald Trump signed, the Federal Reserve sent out checks worth $1200 to every US citizen that made below $75K per year. The first cases reported of people getting their checks came in the middle of April 2020. Although most reports claimed that the US citizens used the money to pay for rent or food, some did invest in BTC and for those they did, they made strong ROIs. The crypto community then saw the Bitcoin price trading from $6800 when the checks were handed out but as of the time of writing, BTC sits at $49K which means that the holders would have made 620% on their initial investment.

If the chances of people investing their stimulus check into BTC is slim, the assumptions that they will invest in ETH are even smaller. Nevertheless, it’s still interesting to see the hypothetical investments and what they could have become. The results show that the investors would have been quite prosperous if they bought ETH in mid-April until today. The cryptocurrency traded between $155 and $161 in April so if we consider the higher price tag of $1200, a user could have still purchased 7.5 ETH. ETH exploded to new highs and it is now sitting at $1800 and with this price range, the stimulus check investment would have been $13,500, marking a 1025% ROI.

As reported recently, 2020 was quite an interesting year to say at least and it seems that Satoshi Nakamoto predicted a scenario of this kind and it is why Bitcoin was created in the first place. BTC was designed to be both decentralized and non-sovereign so by separating the money from the state, citizens are freed from the control of fiat currencies that offer governments through central banking.