Stimulus money in the pandemic was a major factor behind the current boom in stocks and cryptocurrencies.
In 2020, the Coronavirus Aid, Relief and Economic Act provided payments of $ 1,200 for eligible adults and another $ 500 for those with eligible children.
The CARES law was the first of three rounds of stimulus payments for Americans since March 2020.
The 2020 tax relief law in December declared additional payments of $ 600 per eligible adult and up to $ 600 for those with qualifying children.
The U.S. Rescue Plan Act of 2021 last month has an additional payment of $ 1400 available to adults and up to $ 1400 for those with qualifying children.
Some consumers have used the stimulus payments to help with increased spending or lower income due to the pandemic. Others saved or invested the money.
Here’s a look at the returns a consumer would have had if, on the dates of April 11, 2020, they were doing their stimulus checks in leading cryptocurrencies like Bitcoin, Dogecoin and Ethereum; 29 December 2020; and March 12, 2021.
The calculations are based on the incentive payments of $ 1,200, $ 600 and $ 1,400 for eligible adults using the highest price for which each cryptocurrency traded on the dates on which Americans began receiving checks.
Related link: How to invest in your cryptocurrency with your stimulus test
Stimulus Check In Bitcoin: Investing in Bitcoin (CRYPTO: BTC) with a portion of stimulus checks was perhaps a popular option for investors and people who wanted to save some of the payments from the US government.
Bitcoin traded at $ 6,926 on April 11, 2020; $ 27,370 on December 29, 2020; and $ 57,996 on March 12, 2021. A person who has already deposited $ 3,200 of the stimulus checks into Bitcoin could buy a total of .219 of the crypto-currency. Based on a price of $ 55,375.31 for Bitcoin today, $ 3,200 would now be worth $ 12,127.
Stimulus Check in Dogecoin: The meme cryptocurrency, known as Dogecoin (CRYPTO: DOGE), increased its valuation sharply in 2021 thanks to strong interest from retail investors and the support of celebrities such as Tesla Ing (NASDAQ: TSLA) Elon Musk, CEO.
Dogecoin traded at $ 0.0020 on April 11, 2020; $ 0.0046 on December 29, 2020; and $ 0.0570 on March 12, 2021. A person who had already deposited $ 3,200 of the stimulus checks into Dogecoin could buy 754,996 digital tokens. Based on a price of $ 0.3327 for Dogecoin today, $ 3200 would now be worth $ 251,187.
Stimulation test 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 poured the $ 3,200 into Ethereum could buy 9.02 of the coins. Based on a price of $ 2,157.25 for today’s Ethereum, the $ 3,200 investment would now be worth $ 19,458.
Related link: If you invested $ 1,000 in Dogecoin on January 1, 2021, that’s how much you would have now
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