In the latest video of Bitboy Crypto, crypto KOL and successful trader Ben Armstrong shares with his subscribers the reason the middle of March is going to be an absolute go time forEthereum (ETH) and round 2 pumpage for Cardano (ADA).
Firstly, the crypto KOL mentions about the new stimulus legislation signed by Joe Biden called the American Rescue Plan on Friday. This is the recent stimulus checks of $1400 per individual that were signed by the Senate over the weekend after already obtaining House approval.
He believes that numerous people will put these stimulus checks into crypto:
“It’s easy for people with disposable income to see the upside of putting money into Bitcoin at this point”.
The analyst adds:
“You’ll have a hedge against the coming economic catastrophe, most likely coming at the end of this year or maybe next year”.
In the second part of the video, the trader compares the investments between cryptocurrency and other assets:
“Back in April 2020, if you would’ve put your money in gold, you would actually have less than $1200.
“If you would’ve invested your $1200 stimulus check into the Standard and Poor’s 500 Index fund that tracks the top 500 US publicly traded companies, you would have made a pretty impressive $448. If you’d invested in the NASDAQ Index which tracks all securities in the US, you would have made even more! $603!”.
Then, the crypto KOL makes comparision with investment into Tesla and Bitcoin, and impressively, the trader highlights that it will give a net return of $3,428 and $8,293 respectively.
However, there are some assets that would “help you earn more with your stimulus check”.
“I always tell you ETH way outperforms it. Because it does. Even with it lagging behind Bitcoin lately. Since last April, ETH has crushed Bitcoin…If you would’ve put your $1200 stimulus check into Ethereum, you would have made $13,203. That’s enough to buy a Kia!”.
The second best investment on the list is GameStop’s stock as it would generate a return of $43,088.
“No one saw this coming”, he adds.
Lastly, the winner and the best investment goes to Cardano.
“You would have made $43,600 off a $1200 investment in Cardano back in April of 2020”.