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People Are Becoming More Familiar To Bitcoin Investments – Research.

The ordinary American taxpayer has gotten three rounds of renewal checks from the US government in an effort to boost consumer spending power and restore the economy. For some, it represented the chance to invest in Bitcoin (BTC).

According to research released on August 26, 11% of respondents aged 18 to 34 re-invested a portion of their motivational testing into cryptocurrencies. Reinvesting in the first round of renewal payments to Bitcoin from April 2020 to Oct. 31, 2021, older Americans made a total profit of roughly 442 percent, converting investments of $ 1,200 to $ 5,304.

Between December 2020 and January 2021, a second $ 600 incentive check was distributed, only two months before Bitcoin reached a new all-time high of $ 65,320. The second check, if re-invested in Bitcoin, will yield a profit of 152 percent (about $ 312).

The payment rate for the third renewal check has been established at $ 1,400, and it will be accessible to eligible taxpayers beginning in March 2021. Bitcoin has been in a three-month bear market since then, but it is now fully recovered, falling to $ 65,000 in the initial transaction price. Despite the volatility, reinvesting in a third renewal check in Bitcoin will yield a 7 percent profit, or $ 98 at the time of writing.

Based on the foregoing data, a timely re-investment of renewable checks worth $ 3,200 in BTC by the end of October will yield a total profit of $ 4,514 (about 141 percent). Many Americans who are eager to invest in cryptocurrencies, according to a poll done by Harris Poll on behalf of Yahoo Finance, have a strong interest in Bitcoin and Ether (ETH).

Crypto For the third month in a row, the PlanB analyst prognosis for Bitcoin is positive.

Bitcoin is expected to reach $ 98,000 in value by the end of November, according to PlanB. If the forecast is correct, the renewal check investment will yield a 58 percent return on the current market value.

El Salvador declared BTC to be an official tender on September 7 and has since begun purchasing Bitcoin with its American dollar reserves.

On October 28, President Nayib Bukele announced the addition of 420 Bitcoin, bringing the total national deposit to 1,120 BTC, worth $ 87.4 million.

Bukele claims that once the country achieves a profit on its Bitcoin investment, an equivalent amount from its dollar reserves is re-invested to fund various activities. As a result, the value of El Salvador’s national reserves in US dollars has remained unaltered.

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