A Twitter account titled “The $ 1,200 Incentive Now Worth” tracks how much your first incentive would cost $ 1,200 if you invested in Bitcoin when sending money as of April 15, 2020.
The provision of the first $ 1,200 stimulus account last April is in line with significant bullish gains in the cryptocurrency and equity markets.
Bitcoin was set at $ 6,848 on April 15, and if you had invested $ 1,200 in incentives, it would now be worth $ 10,211 at current prices of around $ 56,000. Return on investment 751%
And if you somehow missed the investment in the first Bitcoin incentive test, the second $ 600 stimulus launched at the end of December will still give you a good return. If you bought Bitcoin for about $ 29,000 on Jan.1, that $ 600 investment would now go up to $ 1,160 – a 93% return.
The third stimulus will come after the US Senate approved the publication of a $ 1.9 trillion aid package on March 6, which will pay $ 1,400 to eligible Americans.
To see the same return on the third stimulus, you have to see a massive rise in the Bitcoin price. If you want to repeat the 751% discount, the bitcoin price should be $ 476,000. A 93% discount on this incentive would result in Bitcoin reaching $ 108,000.
In the short term, many institutions believe that Bitcoin could exceed $ 100,000 by 2021. Earlier this month, Nikolaos Banegertzoglu of GBMorgan Chase’s strategy team said bitcoin could get $ 146,000 plus by the end of the year. 2021, as Bitcoin is expected to eavesdrop on gold as a hedge and long-term value for investors.
COVID-19 boosted investor interest in bitcoin, according to a Grayscale Investments survey in June and July 2020. The company surveyed 1,000 investors between the ages of 25 and 64 with a personal investment of $ 10,000 or more.
The survey found that the pandemic affected the decisions of 63% of respondents who invested in bitcoin in the past four months.
The problem with this story is that if you invested your first incentive check in Ethereum on April 15th, you would outperform your Bitcoin counterparts. Investing $ 1,200 in Ethereum at the time would have given you 7.5 Ether, which is about $ 13,500 at current prices, an increase of 1025%.