- Three months ago, US taxpayers received a stimulus check, many of whom spent it on Bitcoin
- If you bought Bitcoin with your stimulus check, you’d have a pretty pile of cash today
- If you missed out first time around, rumor has it a second check could be on the way fairly soon
Three months ago, the US government decided to hand out a stimulus check to every US taxpayer, worth a cool $1,200 at the time. Then, many people were saying they’re going to spend it all on crypto, which many, including FullyCrypto, said was a bad idea. Now, if you didn’t need the money and didn’t need to pay bills, it looks as if buying Bitcoin with the check would have been a pretty good idea.
According to a Twitter account dedicated to tracking the value of that $1,200 check in Bitcoin, the value of your $1,200 would have increased rather nicely. In fact, you’d be sat on more cash than if you’d put it away in a high interest savings account – if they even exist anymore.
A Whole Lotta Gains
We love gains. In fact, we love gains so much we’ve even got our very own crypto analyst here at FullyCrypto. But the sweetest gains cost absolutely nothing, and if you didn’t need to spend your check to stay afloat, then you could be sat on nearly $2,000. That’s right, according to the Twitter handle @Bitcoinstimulus, your $1,200 stimulus check would now be worth $1,795 if you spent it all on Bitcoin. That’s a nice 49.61% increase in just over three months. For doing nothing at all, that’s a pretty sweet deal for free money, right?
— $1200 Stimulus Is Now Worth (@BitcoinStimulus) July 26, 2020
Is There another Check Incoming?
If the rumors are to be believed and a digital dollar isn’t in the works, then we could be about to see another wave of stimulus checks being sent out across the US. The reports are unconfirmed as of yet, but if they’re true, then you’ve got another chance to join the Bitcoin stimulus train and make some epic gains from your money. Obviously, we only advise this if you don’t need the money right now to buy food, pay bills and generally live.
Gambling your entire stimulus check on crypto is a risky move, but if you don’t need the check, then it’s a wise investment. As time goes on, Bitcoin and other alts will only increase in value. So, pick out a couple of promising coins and hodl on. Who knows, in another three months your stimulus check could be worth tens of thousands!