Those who purchased Bitcoin with their $1,200 stimulus checks in April of last year, could cash out for over $11,000 as of Tuesday.
BitcoinStimulus.net has been tracking the price of Bitcoin since April 15, 2020, when Americans began receiving their $1,200 stimulus checks. The website shows that since April 15, the price of Bitcoin has increased by over 800 percent, indicating a profit of around $11,000.
In March 2020, then-President Donald Trump signed the $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act, which provided eligible Americans with direct checks worth $1,200.
By mid-April, the $1,200 checks were sent out to those with a gross adjusted income of $75,000 or $150,000 for married couples. In mid-April, the price of Bitcoin ranged around $6,000 to $7,000 but this number has since increased greatly over the past several months.
In mid-July, the price of Bitcoin surpassed $10,000 and continued to increase and eventually reached an all-time high of approximately $66,974 in mid-October.
Data from BitcoinStimulus also shows the potential profit those who invested all three of their stimulus checks could make if they decided to sell their shares today.
In December 2020, Congress passed a second COVID-19 economic relief package worth $900 billion. The second relief package sent out direct $600 checks to eligible Americans among other economic aid aspects.
BitcoinStimulus data shows that a $600 purchase of Bitcoin on December 29, 2020, would now be worth over $1,000 as the price of the world's most popular cryptocurrency has continued to increase. By December 31, the price of Bitcoin reached approximately $28,984, according to CoinDesk.