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Americans reinvesting stimulus checks in Bitcoin made $4.5k in profit
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An average American taxpayer received three rounds of stimulus checks from the United States government as a means to reignite the economy by increasing consumers’ spending potential. For many, this meant an opportunity to invest in Bitcoin (BTC).
A Cointelegraph report from Aug. 26 shows that 11% of the respondents between the ages of 18 to 34 reinvested a part of their stimulus checks into cryptocurrencies. Adult Americans that reinvested the first round of stimulus payments from April 2020 into Bitcoin have realized a net profit of roughly 442%, turning a $1,200 investment into $5,304 as of Oct. 31, 2021.
The second stimulus check of $600 was distributed between December 2020 and January 2021, just two months before Bitcoin achieved an
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