$40 billion of stimulus money into bitcoin

$40 billion of new stimulus money could go to Bitcoin & stocks

Author: Will Daniel
  • Mizuho surveyed 235 respondents with household incomes below $150,000 about their stimulus checks.
  • It found $40 billion of the $380 billion in direct stimulus checks could go to bitcoin and stocks.
  • More respondents said they would be putting money into bitcoin than stocks overall.
stimulus money into bitcoin

A survey conducted by Mizuho found that $40 billion of COVID-19 relief bill funds sent to Americans could go to bitcoin and stocks.

Mizuho analysts, led by Dan Dolev, spoke with approximately 235 people with a household income of $150,000 or less in a survey released on Monday.

The team found that roughly 40% of respondents said they planned on using at least a portion of their stimulus money to invest in bitcoin or stocks.

Mizuho calculated that this means nearly $40 billion of the $380 billion in stimulus checks could go to the assets.

The survey also found that investors are more likely to put their stimulus money into bitcoin than stocks.

Of the respondents who said they plan on investing, 61% said they would be investing in bitcoin versus just 39% who said they would be putting money into stocks.

“The survey predicts that bitcoin will account for 60% of total incremental investment spend,” Dan Dolev, Senior Equity Analyst for Mizuho wrote. “We calculate it could add as much as 2-3% to bitcoin’s current $1.1 trillion market value.”

 

Source: Markets Insider

Like similar snippets of news?
Head over to insights to read more of the latest news and self written content by ezsy!
At ezsy we aim to make things #ezsyforeveryone!
Take your first steps in your crypto journey and download ezsy today!