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In 2020, the Coronavirus Aid, Relief and Economic Act provided for payments of $ 1,200 to eligible adults and an additional $ 500 to those with eligible children.
The CARES Act was the first of three rounds of stimulus payments for Americans since March 2020.
The Tax Relief Act of 2020 declared in December additional payments of $ 600 per eligible adult and up to $ 600 for those with eligible children.
The American Rescue Plan Act of 2021 provided for an additional payment of $ 1,400 for eligible adults and up to $ 1,400 for those with eligible children.
Stimulus money has been used by Americans for a variety of things, including helping to offset increased spending or declining income due to the COVID-19 pandemic. Others have saved the money or invested it.
Here’s a look at the return a consumer would have had if they had placed their stimulus checks ($ 1,200, $ 600, and $ 1,400) in major cryptocurrencies like Bitcoin, Dogecoin, and Ethereum on the respective dates of April 11. 2020, December 29, 2020, and March 12, 2021.
Bitcoin stimulus checks: Invest in Bitcoin (CRYPTO: BTC) with a portion of the stimulus checks may have been a popular option for investors and people looking to store a portion of the U.S. government payment.
Bitcoin was trading at $ 6,926 on April 11, 2020, $ 27,370 on December 29, 2020, and $ 57,996 on March 12, 2021. A person who put the $ 3,200 of the stimulus checks into Bitcoin could have bought a total of 0.219 of the cryptocurrency. Based on a price of $ 42,588.24 for Bitcoin today, that $ 3,200 would now be worth $ 9,326.
Related Link: How To Invest In Cryptocurrency With Your Stimulus Control
Stimulation controls in Dogecoin: The same cryptocurrency known as Dogecoin (CRYPTO: DOGE), which has gained interest and value through the support of people like Tesla Inc (NASDAQ: TSLA) CEO Elon Musk, was also a place where some people put their stimulus checks.
Dogecoin was trading at $ 0.0020 on April 11, 2020, $ 0.0046 on December 29, 2020, and $ 0.0570 on March 12, 2021. A person who put the $ 3,200 of the stimulus checks into Dogecoin could have bought 754 996 Dogecoin. Based on a price of $ 0.2079 today, that $ 3,200 would now be worth $ 156,963.
Stimulation checks in Ethereum: One of the fastest growing cryptocurrencies in 2021 is Ethereum (CRYPTO: ETH), thanks to its connection to non-fungible tokens.
Ethereum traded at $ 161.17 on April 11, 2020, $ 737.95 on December 29, 2020, and $ 1,839.50 on March 12, 2021. A person who put the $ 3,200 in Ethereum could have bought 9.02 pieces. Based on a price of $ 2,906.61 for Ethereum today, that $ 3,200 investment would now be worth $ 26,218.
Stimulus checks the 3 crypto-currencies: A more diverse approach from an investor could have seen investments in Bitcoin, Dogecoin, and Ethereum. Dividing the $ 3,200 into equal investments of the three cryptocurrencies on the respective stimulus payment days would have given an investor 0.0731 Bitcoin, 251,665 Dogecoin, and 3 Ethereum. The three cryptocurrencies would be worth $ 64,154 today based on the equal investments of the three stimulus checks.
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