In mid April 2020, every American received a stimulus check for $1200 as help from the government to make it through the COVID crisis. For some people this was just enough to pay for rent and some expenses. For those who didn’t spend the money right away and invested it instead, this could have been very lucrative as stock and crypto markets were booming. So how much would your stimulus check be worth if you invested it into crypto? We made the calculations on the current top 6 cryptocurrencies.
Bitcoin
Bitcoin had an incredible year moving from a low of almost $3000 to an incredible all-time high of $64,000 in 2021 at over 1 trillion USD in market cap. That is a 20x growth in a year and for people who invested in mid April 2020, this would have meant that your stimulus check would now be worth around $10,000.
Ethereum
Ethereum has also had a spectacular year as far as price action. From facing an all time low of almost $80 to mooning all the way to above $2700 it also surprised many with nearly 30x gains. And according to most experts, this party is just getting started. Ethereum could be going way higher in 2021. If you had invested your $1200 dollar check in Ethereum in April 2020, you would now have $19,480.
Binance Coin
Binance has been going absolutely astronomical the past four months. From sitting at only $30 per token in December 2020, it soared all the way up to above $600 at the beginning of April 2021. Binance Coin is a token for the Binance Smart Chain. The Binance Smart Chain is similar to Ethereum where developers can create their crypto and blockchain projects on the Binance Network.
If you had invested in Bincance Coin back in April 2020, you would now have $41,360.
Doge
Doge is the world’s most popular meme coin. Pushed by numerous celebrities, such as Elon Musk, Snoop Dog and Mark Cuban and hyped as the future currency on Mars, Doge had an astounding growth of 17,000% in the past year. For anyone who was a believer in Doge in April of last year, this would mean that his stimulus check would now be worth a whooping $246,000.
XRP
Ripple had a rough year, facing legal challenges. XRP would not have brought the incredible gains that Doge did, and yet you would have still made a 7x ROI. You would now be holding $8,600 worth of XRP.
ADA
Cardano is one of the most talked about projects in all of crypto right now. Similar to Binance and Ethereum, Cardano will be a platform where developers can come to develop their own projects on the Cardano network. If you had invested $1200 in ADA in April 2020, you’d now have $48,800! That’s almost enough to buy a house, depending on where you want to live of course.
Final thoughts
If you invested your stimulus check in almost any crypto in 2020 you would have done very well, but if you missed the train on these projects, don’t worry. There are still many opportunities in crypto. But please always be careful and do your own research when deciding to invest in crypto. This article is not intended as financial advice. Please always do your own research when buying your digital currencies.
Aaron is passionate about blockchain and has been an investor in cryptocurrencies for the past years. He enjoys engaging with other people in the cryptocurrency community online, particularly on Telegram, and learning from experts.
