Well, that is what people who want to try to buy Bitcoin continuously will get. Those who have succeeded in collecting Bitcoin from 2020 until now can smile with joy because they have made a profit. They now just have to wait for the Bitcoin price to reach its ATH price and sell it to make a profit. But they still wait until Bitcoin price increase.
For those who haven't started yet, they can still accumulate Bitcoin before the price increases. This is an opportunity they still have so they can use it. But if they still postpone it again, that's up to them because we can only suggest it.
People needs to realizes that they still have the chance to do that so they can use it for their own good. But it is not easy to start now as they can see the price is up and down and that can makes them panic if they don't learn more about Bitcoin.
Topic: $1,200 stimulus check in 2020 = $12,392 in 2024 (Read 358 times)
These kinds of posts FOMO the fuck out of the paperhands on twitter who think bitcoin's going to be the solution to their poverty. So when they spend and invest money on it and find out it's not making them any richer any quicker than they hoped to, They sell and swear against it, urging even more people to hate on it which hampers with the progress of bitcoin in general, cause instead of having newer people who are more supportive of the coin and are gonna hold no matter what, instead we have more haters who are going to swear against bitcoin even if it became the signal to the second coming of Jesus Christ.
Bitcoin is not the solution to eradicating the poverty of this world but this just explains why the rich getting richer and the poor getting poorer, this is just to make people who are weak hands and trading in the short term to make pennies can realize what is the potential reap when they do nothing but simply buy and HODL bitcoin that they bought earlier.
Bitcoin will not stop poverty in the world but it is making the poor rich. Many people that wouldn't have ever gotten wealthy are now rich because they kept their coins for a long time. Indeed, the coin shouldn't be advertised as a medium to get rich quick but this doesn't dispute the fact that people are getting rich from it. People work for thirty years and receive a small amount as gratuity, but imagine if such funds were invested in Bitcoin. Some people keep money in a fixed deposit account for many years and get less than a 10% rate; keeping Bitcoin would have given more profit. The greatest problem of the poor is the lack of information and the inability to take risks.
The power of HODLing really shows its strength with Bitcoin. It's fascinating to see how those who invested their stimulus checks in Bitcoin have seen such remarkable growth, turning a relatively small investment into over $12K. This kind of growth is a testament to the potential of Bitcoin as a long-term asset.
For those of us who believe in the technology and its future, this is a reminder that it's never too late to accumulate more Bitcoin. The cycles have shown consistent upward trends, and the current market conditions still offer opportunities.
For those of us who believe in the technology and its future, this is a reminder that it's never too late to accumulate more Bitcoin. The cycles have shown consistent upward trends, and the current market conditions still offer opportunities.
That's a really good reminder to everyone that just trust bitcoin and you will never stray far away from it and in the long-term, the profits that you'll be enjoying will be so big that you would be really thankful that you considered investing in bitcoin and then hodling it for that amount of time. It's a really crazy time though during COVID that if people gambled that stimulus check into investing into bitcoin, they would be making it rain right now but during those times, it was a rough patch in a lot of people's lives and you can't really risk that free money into something that would definitely give you profit in the long-term but you risk not meeting your basic needs for the short-term. Hopefully, there were some people that was able to risk their stimulus checks to invest into bitcoin because they've got some spare money for themselves even without the help of the stimulus checks.
It's not really free money, as that basically ends up devaluing everything else.
So, in a way, it was the best thing to do to change fiat freshly printed into a hard money like Bitcoin.
I can see that in the future this stimulus check will be referred to similarly like we talk about Laszlo's pizzas
That's a really good reminder to everyone that just trust bitcoin and you will never stray far away from it and in the long-term, the profits that you'll be enjoying will be so big that you would be really thankful that you considered investing in bitcoin and then hodling it for that amount of time. It's a really crazy time though during COVID that if people gambled that stimulus check into investing into bitcoin, they would be making it rain right now but during those times, it was a rough patch in a lot of people's lives and you can't really risk that free money into something that would definitely give you profit in the long-term but you risk not meeting your basic needs for the short-term. Hopefully, there were some people that was able to risk their stimulus checks to invest into bitcoin because they've got some spare money for themselves even without the help of the stimulus checks.
It's impressive to see how much Bitcoin has grown over time! Investing in Bitcoin with a stimulus check certainly paid off for those who held on. Did anyone here choose to invest their stimulus in Bitcoin?
The post isn't about literally investing your stimulus check in BTC, but about how great of an investment it is to buy and hold BTC. It does not matter which 'check' you use, and you don't have to make a one time purchase of $1,200 dollars, you can buy lower amounts, and choose how often you want to buy. The message here is that BTC is a profitable asset in the long run, and not just that, you can control your money without the help of any central authority.That's the importance of patience in crypto currency investment. If you want to earn and maximise the profit without trading and other things and just relax while waiting, then holding an asset for a specific long term will give you that kind of profit that will surely be beneficial for the investor.
One more thread to make people to realize the significance of HODLing with bitcoin and as the picture says whoever bought bitcoin with their stimulus check will have over $12K in their portfolio value which is around 900% growth in a cycle we still have time to accumulate bitcoins instead of regretting the missed opportunities.
Anyone bought bitcoin with their stimulus instead of groceries?
It's very important if you're a daily or a weekly trader. The performance should be good overall In order for them to gain enough amount of confidence to invest in these projects.
These kinds of posts FOMO the fuck out of the paperhands on twitter who think bitcoin's going to be the solution to their poverty. So when they spend and invest money on it and find out it's not making them any richer any quicker than they hoped to, They sell and swear against it, urging even more people to hate on it which hampers with the progress of bitcoin in general, cause instead of having newer people who are more supportive of the coin and are gonna hold no matter what, instead we have more haters who are going to swear against bitcoin even if it became the signal to the second coming of Jesus Christ.
Bitcoin is not the solution to eradicating the poverty of this world but this just explains why the rich getting richer and the poor getting poorer, this is just to make people who are weak hands and trading in the short term to make pennies can realize what is the potential reap when they do nothing but simply buy and HODL bitcoin that they bought earlier.
Bitcoin will not stop poverty in the world but it is making the poor rich. Many people that wouldn't have ever gotten wealthy are now rich because they kept their coins for a long time. Indeed, the coin shouldn't be advertised as a medium to get rich quick but this doesn't dispute the fact that people are getting rich from it. People work for thirty years and receive a small amount as gratuity, but imagine if such funds were invested in Bitcoin. Some people keep money in a fixed deposit account for many years and get less than a 10% rate; keeping Bitcoin would have given more profit. The greatest problem of the poor is the lack of information and the inability to take risks.
Besides, it's a biased way of doing the maths. The price of bitcoin ranged in 2020 between $5,000 and $30,000. For the sake of accuracy, I'm going to assume an intermediate figure of 17,500, since the checks were given after the March 2020 crash. That would be 4x, and instead of the $12,192, it would be $4,800. And if you got it at the end of the year, it would be 2.5x, or $3,000.
So I don't buy the hype, no matter how pro-bitcoin I am.
That's a fair point, but perhaps the calculations are based on when the stimulus checks were distributed. I'm not 100% sure on the timeline here, but from what I've seen, it seems it was in March 2020, so the calculations are probably based on the price back then. But Forbes made an article about people buying Bitcoin with stimulus checks closer to the end of April, when the price was somewhat higher (but still around $8k, which is good in terms of profit). So I don't buy the hype, no matter how pro-bitcoin I am.
It's impressive to see how much Bitcoin has grown over time! Investing in Bitcoin with a stimulus check certainly paid off for those who held on. Did anyone here choose to invest their stimulus in Bitcoin?
The post isn't about literally investing your stimulus check in BTC, but about how great of an investment it is to buy and hold BTC. It does not matter which 'check' you use, and you don't have to make a one time purchase of $1,200 dollars, you can buy lower amounts, and choose how often you want to buy. The message here is that BTC is a profitable asset in the long run, and not just that, you can control your money without the help of any central authority.
Yeah, I think I remember this one way back, and if I'm not mistaken, this is not just one time stimulus check if my memory serves me right. And we have seen other posts as well that some people might have used it to buy Bitcoin during that time, but maybe they sold it already when we it all time high the following year with a good price of $69k. So it's almost the same profit though, so what's important is that it's a free money and then you make huge profits about it.
However, on the other side of the spectrum, there could be non-crypto individuals who just uses that money because as we all know, during that time we really don't know what's going to happen to us and majority have lost their jobs. So it's a hit or miss, but for those who bought and sold it at the right time, then good for them.
However, on the other side of the spectrum, there could be non-crypto individuals who just uses that money because as we all know, during that time we really don't know what's going to happen to us and majority have lost their jobs. So it's a hit or miss, but for those who bought and sold it at the right time, then good for them.
This is quite obvious, we weren't even at 20k back when the check thing at USA happened, which is why I would assume that having this type of appreciation isn't really shocking. Obviously this only happened in few nations, in my nation nobody gave "free money" to anyone, that really isn't really a concept we are aware of, USA talks about how they are not communist and quite capitalist instead, but they distributed free money to everyone which was a quite big shocker, in the end holding bitcoin would have helped of course.
Anyone bought bitcoin with their stimulus instead of groceries?
A lot of people who got that money, needed the money to begin with so they ended up just spending that money to survive, not invest, hence not many of them could afford investing that money to bitcoin. But, considering it was 2020 and not 2010 which means if you would have believed into bitcoin then might have chosen bitcoin for that fund.You need to be disciplined with DCA, stack bitcoin ups every week, and now your investment is good with 109.73% up.
The growth % in DCA usually in lower side because you are buying even for the current month and including that for profit percentage calculation. I mean DCA is for different purposes like it is a solution for not having a big money at the beginning itself. So, never need to mind about growth percentage for DCA because sometime it may discourage you if you do not fully understand the percentage of appreciation while doing DCA. 
As much as someone can regret not investing in bitcoin at that time when they've got their stimulus checks, I think that they're better off spending that money for their daily needs because money's hard to come by at that time and I think that priorities should be straight during those times. But maybe if there was some way that people were able to keep all of their stimulus checks, I think that they'd be reveling in riches today right now especially if they did sold at the peak back then and buyback when the price of bitcoin did go down. It's a really crazy time for us and at the end of all of this, it just goes to show that bitcoin really is king and that the hodlers will be the winner at the end of the day.
I always find such comparisons nice to look at. You can basically do the same with many other things if the current point in time is a good one for Bitcoin and the starting point was a possibly worse one. I remember El Salvador and all the FUD that led to a time slot where Bukele didnt look good because bitcoin dropped a lot. The media poorly represented him and thought his strategy was bad. Of course, things look very different today and he is right with his decision, only the media is not celebrating him. So such comparisons always need a good starting point, then they looks good.
It's impressive to see how much Bitcoin has grown over time! Investing in Bitcoin with a stimulus check certainly paid off for those who held on. Did anyone here choose to invest their stimulus in Bitcoin?
These kinds of posts FOMO the fuck out of the paperhands on twitter who think bitcoin's going to be the solution to their poverty. So when they spend and invest money on it and find out it's not making them any richer any quicker than they hoped to, They sell and swear against it, urging even more people to hate on it which hampers with the progress of bitcoin in general, cause instead of having newer people who are more supportive of the coin and are gonna hold no matter what, instead we have more haters who are going to swear against bitcoin even if it became the signal to the second coming of Jesus Christ.
Bitcoin is not the solution to eradicating the poverty of this world but this just explains why the rich getting richer and the poor getting poorer, this is just to make people who are weak hands and trading in the short term to make pennies can realize what is the potential reap when they do nothing but simply buy and HODL bitcoin that they bought earlier.
Anyone bought bitcoin with their stimulus instead of groceries?
What you have to think about is that the stimulus cheque stimulated price rises. Everything, going to the supermarket today is much more expensive than in 2020, buying a house is much more expensive today and buying bitcoin is much more expensive in 2020. So I would blame the stimulus cheque rather than thank it.
Besides, it's a biased way of doing the maths. The price of bitcoin ranged in 2020 between $5,000 and $30,000. For the sake of accuracy, I'm going to assume an intermediate figure of 17,500, since the checks were given after the March 2020 crash. That would be 4x, and instead of the $12,192, it would be $4,800. And if you got it at the end of the year, it would be 2.5x, or $3,000.
I did the match before posting this, not simply posted it.
The price of 1BTC was around $6500 at the end of the March 2020.
Now, Let's do the Math $1200/$6500= 0.1846BTC then 0.1846BTC x $70,000 = $12,922
The numbers are a little bit higher than what's mentioned in OP.
What you have to think about is that the stimulus cheque stimulated price rises. Everything, going to the supermarket today is much more expensive than in 2020, buying a house is much more expensive today and buying bitcoin is much more expensive in 2020. So I would blame the stimulus cheque rather than thank it.
Although injecting money into economy like this always has its negative side effects but if you do some quick calculations you'd realize that the entire stimulus package program was too small to be blamed for the inflation situation today.For example the checks people received was coming from a $2.3 trillion budget and it was only a small portion of that budget. The rest went elsewhere like $500 billion of it went into government loans to companies, $349 of it went into other loans to small businesses, $150 billion of it went directly to local states and governments.
Now compare that one time amount with the $1 trillion the US government has been printing every 100 days and you'll realize how miniscule that stimulus package's effect on inflation was...
Effects of it on bitcoin price has been even smaller because generally people are not making investments in a recession. In fact this is why price doesn't like rising these days since most of the world has been in another recession for the past 1-2 years.
I agree with your point about investing in BTC, but there's a problem.
Stimulus checks weren't supposed to be spent on investing and buying crypto. The government wanted to help the poor and unemployed during the COVID lockdowns, so the stimulus checks had to be spent on food, gas and bills. I hate the concept of "helicopter money" because it boosted the inflation into another level. However, maybe the stimulus checks and all the money printing that has been done during the pandemic helped in boosting the Bitcoin price to levels above sixty thousand dollars. What if there wasn't any aggressive money printing and "helicopter money" during the pandemic? Would the BTC price hit levels 60K USD? I really don't know.
Stimulus checks weren't supposed to be spent on investing and buying crypto. The government wanted to help the poor and unemployed during the COVID lockdowns, so the stimulus checks had to be spent on food, gas and bills. I hate the concept of "helicopter money" because it boosted the inflation into another level. However, maybe the stimulus checks and all the money printing that has been done during the pandemic helped in boosting the Bitcoin price to levels above sixty thousand dollars. What if there wasn't any aggressive money printing and "helicopter money" during the pandemic? Would the BTC price hit levels 60K USD? I really don't know.
I remember when it became popular to "spend your stimulus check on Bitcoin" back in 2020 and 2021. Back then bitcoin wasn't really going anywhere unlike the stock market. So many people suggested it would of been better to just buy GME with that $1200.
However after it started to rally and Elon started to buy, its when all these $1200 turned into $XXXXX started to pop-up. However later on it was pretty much too late, bitcoin rallied hard and the ship has sailed. Wonder how many actually held till now if they actually bought bitcoin with the $1200.
However after it started to rally and Elon started to buy, its when all these $1200 turned into $XXXXX started to pop-up. However later on it was pretty much too late, bitcoin rallied hard and the ship has sailed. Wonder how many actually held till now if they actually bought bitcoin with the $1200.
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