In all, the Brazilian government paid up to R$ 4,200 in emergency aid, which if converted into Bitcoin would have yielded an expressive percentage.
While the Federal Congress is discussing the expansion of the emergency aid of R$ 600 paid to the population to combat the economic impact of the coronavirus, a Brazilian Twitter user made a table to project the investment in Bitcoin during the months in which the aid was paid in 2020. The result is, to say the least, surprising.
Emergency relief began to be discussed in March 2020. Initially, the Bolsonaro government proposed the payment of R$ 200 to Congress, but the amount was considered insufficient and was increased to R$ 600 monthly.
Initially dedicated to the low-income population under the Family Grant, the benefit was later also offered to self-employed workers and other categories affected by the suspension of activities in the pandemic.
Officially, the benefit was paid until December 2020. There were six installments of R$ 600 and three more of R$ 300. The benefit also ended up contributing to the banking of millions of Brazilians through the Caixa Econômica Federal, which encouraged Minister Paulo Guedes, who is already promising the privatization of the state-owned digital bank.
The increase in payment, since the pandemic continues to grow in the country in a second wave, is already on the legislative agenda. The Bolsonaro government is against it.
What if you invested the emergency aid in Bitcoin?
The Twitter user „@Azzideia“ Medeiros published a projection on Wednesday (6), with the valuation of each part of the emergency aid if the money had been invested in Bitcoin, considered by market specialists as one of the best investments in Bitcoin.
The period considered goes from R$ 38,955, cryptomoeda’s April 2020 value, to R$ 191,848, Bitcoin’s value in Brazil this Wednesday, January 6th, 2021.
According to the projection, if the first parcel of April had been converted into Bitcoin, with the currency worth $ 38,955 in Brazil, the same amount in Bitcoin yesterday, with the currency at $ 191,498, would be worth $ 2,954, an appreciation of 492%. Already by the rally today, Thursday, with the cryptomoeda at $ 220,000, the valuation already rises to 554%.
Finally, if someone had invested all 9 installments of the aid paid by the federal government in Bitcoin, totaling $ 4,200, today would be $ 14,348, with a valuation of no less than $ 342%.
The publication generated interest from other users, who answered the tweet with questions like „How do I invest in Bitcoin?“ or „How can I buy Bitcoin?