If You Invested Your 3 Stimulus Checks In Bitcoin, Dogecoin And Ethereum, Here’s How Much You’d Have Now

In 2020, the Coronavirus Aid, Relief and Economic Act provided payments of $1,200 to eligible adults and another $500 for those with qualifying children.

The CARES Act was the first of three rounds of stimulus payments for Americans since March 2020.

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The Tax Relief Act of 2020 in December 2020 declared additional payments of $600 per eligible adult and up to $600 for those with qualifying children.

The American Rescue Plan Act of 2021 provided an additional $1,400 payment to eligible adults and up to $1,400 for those with qualifying children.

The stimulus money was used by Americans for various items, including helping offset increased expenses or a loss of income due to job cuts related to the COVID-19 pandemic. Others used the stimulus money to invest in stocks and cryptocurrencies, pay off debt, or put into savings.

Here is a look at the return a consumer would have if they put their stimulus checks ($1,200, $600 and $1,400) into leading cryptocurrencies like Bitcoin BTC/USD, Dogecoin DOGE/USD and Ethereum ETH/USD.

The hypothetical results are based on the dates of April 11, 2020, December 29, 2020 and March 12, 2021 for the stimulus checks.

Stimulus Checks in Bitcoin: Investing in Bitcoin with a portion of the stimulus checks may have been a popular option for investors and people looking to store some of the payment away from the U.S. government.

Bitcoin traded at $6,926 on April 11, 2020, $27,370 on December 29, 2020 and $57,996 on March 12, 2021. A person who put all $3,200 from the stimulus checks into Bitcoin would have been able to purchase a total of 0.219 BTC. Based on a price of $24,020.55 for Bitcoin today, that $3,200 would now be worth $5,260.50.

Related Link: How To Buy Cryptocurrencies 

Stimulus Checks in Dogecoin: The meme cryptocurrency known as Dogecoin gained interest and value in 2021 thanks to retail investors and vocal public supporters like Mark Cuban and Tesla Inc TSLA CEO Elon Musk. Here’s how stimulus checks in Dogecoin would have fared.