{"id":13015,"date":"2021-10-31T22:05:29","date_gmt":"2021-11-01T02:05:29","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=13015"},"modified":"2022-11-11T12:05:40","modified_gmt":"2022-11-11T16:05:40","slug":"americans-who-reinvested-stimulus-checks-in-bitcoin","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/americans-who-reinvested-stimulus-checks-in-bitcoin\/","title":{"rendered":"Americans Who Reinvested Stimulus Checks in Bitcoin See 442% Growth In Profit"},"content":{"rendered":"\n
By the end of October, a timely reinvestment of $3,200 in stimulus cheques into Bitcoin would yield a total profit of $4,514 (almost 141 percent).<\/h5>\n\n\n\n
\"Americans<\/figure>\n\n\n\n


The US government issued three rounds of stimulus cheques<\/a> to the typical American taxpayer in order to re-ignite the economy by raising consumers' spending power. For some, it represented the chance to invest in Bitcoin (BTC).<\/p>\n\n\n\n

According to a report on Aug. 26, 11% of respondents aged 18 to 34 re-invested a portion of their stimulus checks into cryptocurrencies. Adult Americans who reinvested the first wave of stimulus money into Bitcoin between April 2020 and October 31, 2021, made a net profit of nearly 442 percent, turning a $1,200 investment into $5,304.<\/p>\n\n\n\n

The Stimulus Checks and Reinvestments<\/h2>\n\n\n\n

The second $600 stimulus check was given out between December 2020 and January 2021, barely two months before Bitcoin reached a new all-time high of $65,320. The second check, if reinvested in Bitcoin, would yield a profit of 152 percent (about $312).<\/p>\n\n\n\n

The average payout for the third stimulus check was set at $1,400, with payments beginning in March 2021 for qualified taxpayers. Since then, Bitcoin has had a three-month bear market before fully recovering to reach a trading value of $65,000 for the first time. <\/p>\n\n\n\n

Despite the volatility, reinvesting the third stimulus check in Bitcoin at the time of writing would provide a tiny 7 percent profit, or $98.<\/a><\/p>\n\n\n\n

Based on the figures above, reinvesting $3,200 in stimulus checks into Bitcoin by the end of October would yield a total profit of $4,514 (almost 141 percent). According to a survey done on behalf of Yahoo Finance by Harris Poll, the majority of Americans eager to invest in cryptocurrencies are particularly interested in Bitcoin and Ether (ETH).<\/p>\n\n\n\n

The Result of PlabB's Bitcoin Prediction<\/h2>\n\n\n\n

For the third month in a row, crypto expert PlanB's prediction on Bitcoin has come true.<\/p>\n\n\n\n

Bitcoin is expected to reach $98,000 in value by the end of November, according to PlanB. If the forecast is correct, the stimulus check investments will benefit by 58 percent from today's market price.<\/p>\n\n\n\n

El Salvador declared Bitcoin a legal tender on September 7 and has since begun reinvesting its US dollar reserves in Bitcoin purchases.<\/p>\n\n\n\n

On Oct. 28, President Nayib Bukele announced the addition of 420 Bitcoin<\/a> to the national reserve, raising it to 1,120 BTC, worth $87.4 million.<\/p>\n\n\n\n

Bukele claims that once the country achieves a profit on its Bitcoin investment, an equivalent amount from its dollar reserves is re-invested to fund various activities. As a result\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, the overall value of El Salvador's national reserves in terms of the US dollar remains unchanged.<\/p>\n","protected":false},"excerpt":{"rendered":"

By the end of October, a timely reinvestment of $3,200 in stimulus cheques into Bitcoin would yield a total profit of $4,514 (almost 141 percent). The US government issued three rounds of stimulus cheques to the typical American taxpayer in order to re-ignite the economy by raising consumers’ spending power. For some, it represented the […]<\/p>\n","protected":false},"author":63,"featured_media":13017,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83,25],"tags":[152,5298,5297],"class_list":["post-13015","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","category-market-analysis","tag-bitcoin","tag-reinvestment","tag-stimulus-checks"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/10\/Americans-Who-Reinvested-Stimulus-Checks-in-Bitcoin-Sees-442-Growth-In-Profit.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/13015","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/63"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=13015"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/13015\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/13017"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=13015"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=13015"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=13015"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}