An average American taxpayer received 3 rounds of stimulus checks from the United States government as a means to reignite the economy by increasing consumers' spending potential. For some, this meant an opportunity to invest in Bitcoin (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 commencement round of stimulus payments from April 2022 into Bitcoin have realized a cyberspace profit of roughly 442%, turning a $1,200 investment into $five,304 as of Oct. 31, 2022.

The second stimulus check of $600 was distributed betwixt December 2022 and January 2022, just 2 months before Bitcoin achieved an all-time high of $65,320 for the commencement fourth dimension. If reinvested in Bitcoin, the second check would render a profit of 152% (approximately $312).

The average payout for the third stimulus cheque was fix at $one,400, which was made available for eligible taxpayers from March 2022. Since then, Bitcoin underwent a three-month-long bearish marketplace but made a total recovery to cross $65,000 in trading value for the first fourth dimension. Despite the fluctuations, reinvesting the third stimulus cheque in Bitcoin would return a small 7% or $98 in profit at the fourth dimension of writing.

Based on the findings to a higher place, a timely reinvestment of $3,200 worth of stimulus checks into Bitcoin would return a full profit of $4,514 (nearly 141%) by the finish of October. In a study conducted past Harris Poll on behalf of Yahoo Finance, almost Americans willing to invest in cryptocurrencies cited primary interest in Bitcoin and Ether (ETH).

Crypto annotator PlanB's prediction on Bitcoin checks out for the third consecutive month.

According to PlanB, Bitcoin 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'south market price.

Related: Republic of el salvador buys a smokin' hot 420 more Bitcoin

Republic of el salvador announced Bitcoin every bit a legal tender on Sept. seven and has ever since started reinvesting its United States dollar reserves on procuring Bitcoin.

President Nayib Bukele appear the addition of 420 BTC on Oct. 28, bringing upward the national reserve to 1,120 BTC, worth $87.four million.

According to Bukele, one time the country makes a profit on its Bitcoin investment, an equivalent corporeality from its dollar reserves is reinvested for funding various initiatives. As a result, the total value of Republic of el salvador's national reserves maintains its original value in terms of the U.Due south. dollar.