US stimulus package of $1,200 now worth $3,000 (Bitcoin store of value)

[Btczhageh]

As the heading rightly mentioned, those of my friends without deep thinking toward tomorrow and be unable to make some good decision had called me to regret their loss, during this Bitcoin movement which was unpredictable. Most of us made some good decisions with out stimulus and some went for Forex, today, i was fortunate to meet one of my college and he lamented but nothing can be done to help his situation.

Currently, the $1,200 stimulus package has yielded me another $1,000+, Bitcoin is the ultimate, am in love, yeah!. More rumors about the second stimulus package by Biden(US President elect) underway, this will definitely bullish the Bitcoin and the entire cryptocurrencies, hope to see Biden(US President elect) executing this from the reserve.

What was your stimulus used for?

[Husires]

If you keep comparing it to the dollar, the amount may be worth a lot after several years, but the reason is not only the rise in Bitcoin, but the inflation that makes many currencies weaker.


Continuing to obtain stimulus packages will not change the price. Let us assume, that all people who obtained stimulus packages and wanted to enter them into the market is $ 100 million. it is will only change the price by less than a few percent.

The policies that governments take will determine the price of Bitcoin's rise.

[BrewMaster]

bitcoin adoption has been growing which is why its price has been going up and leads to this type of profit. but the more important thing that involves the stimulus that involves bitcoin is that they are increasing the inflation of their fiat and when one currency is inflated the other currency (bitcoin) that doesn't will go up against it.
we still haven't seen the effects of the inflation on US dollar.

[SaShiRaJaVu]

Currently, the $1,200 stimulus package has yielded me another $1,000+, Bitcoin is the ultimate, am in love, yeah!. More rumors about the second stimulus package by Biden(US President elect) underway, this will definitely bullish the Bitcoin and the entire cryptocurrencies, hope to see Biden(US President elect) executing this from the reserve.

If you have the ability to purchase bitcoin with the pandemic stimulus package more power to you as you are having a stable financial situation but that might not be the situation with the millions of people out there who lost their jobs and business during the pandemic. It would be foolish for me to think that the bitcoin market is increasing because of these stimulus rather than thinking that these investments are coming from corporate fund houses investing in bitcoin.

[hatshepsut93]

The government didn't give out thousands of dollars to the people so they could invest in in speculative assets, they gave money so that people could cover their basic necessities while they are unemployed during the covid pandemic. You can't really say that those who didn't buy Bitcoin made the wrong move, they had no other choice, and remember that Bitcoin could have just as easily fallen down instead of going up - bearish markets happen too.

[Btczhageh]

Currently, the $1,200 stimulus package has yielded me another $1,000+, Bitcoin is the ultimate, am in love, yeah!. More rumors about the second stimulus package by Biden(US President elect) underway, this will definitely bullish the Bitcoin and the entire cryptocurrencies, hope to see Biden(US President elect) executing this from the reserve.

If you have the ability to purchase bitcoin with the pandemic stimulus package more power to you as you are having a stable financial situation but that might not be the situation with the millions of people out there who lost their jobs and business during the pandemic. It would be foolish for me to think that the bitcoin market is increasing because of these stimulus rather than thinking that these investments are coming from corporate fund houses investing in bitcoin.

We never rely on these stimulus package from the government, the pandemic came to humanity unaware and meant us with the current situation of things including the unemployment. But, those with the little financial strength before the package arrived also squandered their stimulus package, how do you classify such?. My own friends ate theirs without thinking of investment, and as at today they're still stranded.

The government didn't give out thousands of dollars to the people so they could invest in in speculative assets, they gave money so that people could cover their basic necessities while they are unemployed during the covid pandemic. You can't really say that those who didn't buy Bitcoin made the wrong move, they had no other choice, and remember that Bitcoin could have just as easily fallen down instead of going up - bearish markets happen too.

Yeah, bitcoin could have gone bearish, but with the handwritten on the wall since August 2020, few Bitcoin FAM trusted this as a store of value and I likened Bitcoin as a technology for this. Bitcoin movement doesn't seem hard to me because its a speculative assets too, so, I always follow the news. Those who want to get in should do it now or never because the market will surge by January 2021 IMO.

[HabBear]

What was your stimulus used for?

Rent.

----------------------------

So...what line of work are you in? Have you had real trouble finding work or are you just not working? It's sad that in this "unprecedented time" the charity of congress and your neighbors (because they pay taxes to fund such stimulus packages) that people receiving the money may not really need it. Yeah, the stimulus package was more than minimum wage, which speaks to a different problem, but feel a level of obligation toward what you do with that bitcoin you have growing off of stimulus package money.

That obligation is to redirect that money back into the American economy...that was the purpose of the funds. To keep people in need able to pay their bills or pay for their necessities while also keeping businesses operating through more people paying for their necessities.

When you take that stimulus money out of the system you act like a corporation taking stimulus money to bonus their C-suite.

Congrats on your gains...don't forget to pay your taxes on it when you take it out to buy something in America.

[riskyron]

Too bad that the people that qualified for this stimulus package invest in Bitcoin. Most of them, at least.

[Yaunfitda]

I have this thread before: Wonder how much is the $1200 stimulus package worth now if invested on BTC?, if I'm not mistaken, this is the first stimulus package back then, May 2020.

[jossiel]

I have no stimulus but still bought bitcoin before it has reached $16700. Congratulations on your gain and what do you plan to with it? I guess you have no plans of cashing it out and will keep holding it.

That's a good decision if that's what you thinking. We've been holding for many seasons including the most bearish time of 2018. Those who don't have an appetite to take risks in buying bitcoin will always be left hanging while watching for our gains.

[Baofeng]

Currently, the $1,200 stimulus package has yielded me another $1,000+, Bitcoin is the ultimate, am in love, yeah!. More rumors about the second stimulus package by Biden(US President elect) underway, this will definitely bullish the Bitcoin and the entire cryptocurrencies, hope to see Biden(US President elect) executing this from the reserve.

Good for you mate, there has been a lot of noise since the first stimulus package, and there are a lot of people from social media who says that they put it in bitcoin and other investment instruments. And there was a big debate on it, others favour, but on the other hand, saying that putting it in bitcoin is a big risk. Anyhow, you have proven that it's worth the risk and I hope that you keep HODLing, we even haven't see a new all time high so there's a possibility that you can make a ton of money next year by just bitcoin sit in your wallet.

[jademaxxiss012]

Do not forget to take profits when you have them in hand. With how volatile the market is, you can't be too sure the price will continue this bullish momentum more since it hasn't really have a decent correction in recent weeks. It is up 100%+ year to date but only had 10-20% corrections back in September. Congrats on getting the win on your wise decision. Investing wisely supercedes saving or using it.

Yes, I agree to you and that OP should always consider getting profit not to be greedy that much like getting feed by the FOMO. There is no better things that cab be done when believing out on those people that talks too much about bitcoin bull run. We are now in bullish and because of that one can earn now especially when one had been buying when bitcoin market is low and selling it at the current price is really a good profit.

[gabbie2010]

Do not forget to take profits when you have them in hand. With how volatile the market is, you can't be too sure the price will continue this bullish momentum more since it hasn't really have a decent correction in recent weeks. It is up 100%+ year to date but only had 10-20% corrections back in September. Congrats on getting the win on your wise decision. Investing wisely supercedes saving or using it.

This is a wise advise to the OP to atleast take profits now and leave the real amount of the invested fund, although the overall market outlook of Bitcoin is very bullish, nevertheless  'A Bird in the Hand is Worth Two in the Bush' the market is unpredictable anything can happen so to be on a safer side take your gain now afterall the stimulus package is a palliative not a repayable loan that was given out by US government to cushion the effect of this pandemic. 

[pooya87]

What was your stimulus used for?

the problem is that most people don't have any contingency plan, they get used to a routine and never think about anything else. this is mostly the problem in developed countries. studies show majority of Americans don't even have any money saved up!
so to answer your question, most people used it for their primary needs instead of thinking about investing it. and a one time thousand bucks isn't really that much money to begin with for people like that.

Yeah, bitcoin could have gone bearish,

i don't think so. bitcoin was bearish for nearly 2 years, you can't expect the bear market to extend indefinitely. at some point it has to come to an end. and it was ended before the pandemic even began and the massive growth was there preventing it from going any other way than bullish.

[Lorence.xD]

You call yourself their friend when you say shit like they are "not deep thinking" aka shallow? It is not like everyone of your so called friends think the same as you luckily, they might need it for necessities. They are part to blame to be fair, they could've invested into crypto if they have savings and yeah you sound douche to them but it seems you get the lucky card and you have more money at your disposal than them, maybe find a new social circle because it seems that you are the smartest man in the room.

[davis196]

The stimulus package is supposed to help the people,who really need money to pay for foods and bills.
If you are using your stimulus check to invest in forex and cryptocurrencies,that clearly shows that you don't need financial help from the government to cover your food expenses.
I really don't understand how the US social security system works.People,who use government support checks to invest in the financial markets should be treated as if they are breaking the law.
Anyway,good for you.I'm not that fortunate,because I don't live in the USA and my government doesn't want to give me money for nothing.

[Jating]

They thought biden would save the economy and removed the lockdown that would rejuvenate the businesses, but its not really going to change anything. Biden is just repeating trumps previous decisions and soon they'll be massacre in middle east or US will declare war with some country to get their resources. Invest your money wisely into hedges such as BTC because the financial system is barely holding.

For the record though, that stimulus package was during Trump's administration, the second one that the OP is saying is not yet finalised as the Biden will take office next year.

I got a stimulus package from our government (not-US) and it's way way below the US is giving to its people. So obviously, I can't just invest it on BTC, however, I have some of my stash. But I don't know if I ever I got that kind of amount as stimulus package, I will readily invest it on BTC. Anyhow, good call by the OP and congrats. Just remain bullish 

[sheenshane]

The stimulus package was provided by the government same here in our country they yielded a certain amount (The Social Amelioration Program or SAP) for the necessities of those who lose their job because of the pandemic.

Unfortunately, I didn't qualify for this program because they based it on your monthly income and your tax status.  Going back to the topic like the others I wouldn't blame those people who received stimulus package and yet didn't invest in bitcoin for they have priorities on where they need to spend the certain amount they get from the government.