There is no greater satisfaction than seeing your investment return dividends. It’s a cloud-nine feeling. For Americans who invested their stimulus checks in bitcoin, their level of joy currently knows no bounds, as they are sure to be in profit. The US government distributed three series of checks to help soften the impact of the pandemic on citizens and the economy. Many citizens saw it as an opportunity to explore the crypto market by committing all or part of their stimulus check in bitcoin.
It was a move of intent for some, but for many others, it was just about testing the waters. However, a recent report by Cointelegraph reveals that taxpayers who reinvested funds from their stimulus checks in bitcoin are in profits of certain degrees. Those who started investing from when the first round of checks was distributed are in profits of around 442%.
Investors who put in their second stimulus checks in bitcoin have more than doubled their initial investment, with a reported profit percentage of 152%. A total sum of $3,200 relief funds was distributed by the government to eligible taxpayers in three batches. Based on the market prices, citizens who invested all of the $3,200 would have earned themselves $4,514 by the end of October.