Stimulus Check Returns On Bitcoin Mining

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The two-year anniversary of the first of three coronavirus economic impact payments (aka, stimulus “stimmy” checks) deposited in U.S. taxpayers’ bank accounts came and went on April 11, and headlines about monetary inflation, possible economic recession and generally grim financial tailwinds are everywhere.

The ethos of Bitcoin stands diametrically opposed to the perceived reckless spending and money printing that characterized the past two years, specifically with Bitcoin miners tasked with issuing new units of bitcoin at predetermined, unmalleable intervals. So, at this point, perhaps it’s appropriate to look back on the returns that individuals who received stimulus checks would have enjoyed if they invested their dollars into bitcoin mining and the alternative financial world it supports.

Bitcoin’s Stimulus Check Narrative

Before parsing mining-specific data, it’s helpful to remember how quickly the narrative that supported investing stimulus money in bitcoin exploded across all social media channels before the first checks were signed or mailed. So large was the support for this meme that multiple polls were later conducted to quantify exactly how many Americans actually exchanged their free fiat money for bitcoin or other cryptocurrencies.



Source link Bitcoin Magazine

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