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 (
$104,603.00 ) (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 ( $104,603.00 ) 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 ( $104,603.00 ) achieved an all-time high of $65,000 for the first time. If reinvested in Bitcoin ( $104,603.00 ) , the second check would return a profit of 152% (approximately $312).
The average payout for the third stimulus check was set at $1,400, which was made available for eligible taxpayers from March 2021. Since then, Bitcoin ( $104,603.00 ) underwent a three-month-long bearish market but made a full recovery to cross $65,000 in trading value for the first time. Despite the fluctuations, reinvesting the third stimulus check in Bitcoin ( $104,603.00 ) would return a modest 7% or $98 in profit at the time of writing.
Based on the findings above, a timely reinvestment of $3,200 worth of stimulus checks into Bitcoin ( $104,603.00 ) would return a total profit of $4,514 (nearly 71%) by the end of October. In a study conducted by Harris Poll on behalf of Yahoo Finance, most Americans willing to invest in cryptocurrencies cited primary interest in Bitcoin ( $104,603.00 ) and Ether (ETH).
Crypto analyst PlanB’s prediction on Bitcoin ( $104,603.00 ) checks out for the third consecutive month.
Aug>47k✅
Sep>43k✅
Next targets: Oct>63k, Nov>98k, Dec>135k pic.twitter.com/C45nfQkQSC
— PlanB (@100trillionUSD) October 1, 2021
According to PlanB, Bitcoin ( $104,603.00 ) is set to exceed $98,000 in value by the end of November. If the prediction holds true, the stimulus check investments will further realize 58% profit from today’s market price.
Related: El Salvador buys a smokin’ hot 420 more Bitcoin ( $104,603.00 )
El Salvador announced Bitcoin ( $104,603.00 ) as a legal tender on Sep. 07 and has ever since started reinvesting its U.S. dollar reserves on procuring Bitcoin ( $104,603.00 ) .
President Nayib Bukele announced the addition of 420 Bitcoin ( $104,603.00 ) on Oct. 28, bringing up the national reserve to 1,120 BTC, worth $87.4 million.
It was a long wait, but worth it.
We just bought the dip!
420 new # Bitcoin ( $104,603.00 )
— Nayib Bukele (@nayibbukele) October 27, 2021
According to Bukele, once the country makes a profit on its Bitcoin ( $104,603.00 ) investment, an equivalent amount from its dollar reserves is reinvested for funding various initiatives. As a result, the total value of El Salvador’s national reserves maintains its original value in terms of the US dollar.
$3,342.39 ) 
