Bitcoin (CRYPTO:BTC) has rewarded investors with stellar returns over the past year, making it enticing for newcomers to jump in and see how much they could “win.” So far, the cryptocurrency has soared to new record highs every month of 2021 as more investors flock to Bitcoin to capture diversification and opportunity.
Now, there’s another incentive that makes investing in Bitcoin an option for those who haven’t dived in yet or those who simply want to add more to their portfolio: $1,400 stimulus checks. On March 11, President Joe Biden signed the American Rescue Plan Act, authorizing $1,400 stimulus checks to eligible taxpayers and dependents of all ages.
If you’re tempted to spend your entire stimulus check on Bitcoin, here are a few items you should consider before your $1,400 leaves your checking account.
Check on your financial house
It’s easy to wake up, see thousands of extra dollars in your account, invest in the hottest assets, and kick all your financial responsibilities to the curb. But don’t be so quick to make moves in the market when you haven’t taken care of your financial affairs.