Connect with us
Active Currencies 14314
Market Cap $2,564,972,238,794.40
Bitcoin Share 51.62%
24h Market Cap Change $1.63

About $40 billion from stimulus payments may be spent on Bitcoin

1min Read

Share this article

After the stimulus package worth trillions of dollars received the green light from US authorities, many Americans received their own stimulus checks. US citizens have decided to put these funds to interesting use, according to a new survey from Mizuho Securities. 

Source: Yahoo Money

Managing Director of Mizuho, Dan Dolev predicted that about 10%, or nearly $40 billion of the $380 billion in direct stimulus checks, “may be used to purchase Bitcoin and stocks.”

According to the survey the flagship crypto asset, Bitcoin will account for “60% of total incremental investment spend.” The Mizuho team was able to calculate that this purchase could add as much as “2-3%” to Bitcoin’s current $1.1 trillion market cap. 

The survey involved approximately 235 individuals who earned less than $150,000 worth of household income. About 200 of these respondents stated that they expected to get the third phase of the direct stimulus checks soon.

Other than Mizuho, Bitcoin bulls have been making similar predictions. Earlier today, Galaxy Digital founder Mike Novogratz claimed that a lot of young American people will use their stimulus payments to invest in Bitcoin. 

Meanwhile, a leading investment banking group stated a similar prediction. David Kostin, chief US equity strategist at Goldman expected households to be “the largest source of equity demand this year.” Household net equity demand forecast has been raised to $350 billion from $100 billion, thus indicating a “faster economic growth and higher interest rates” than previously assumed.


Alisha is a full-time journalist at AMBCrypto. Her interests lie in blockchain technology, crypto-crimes, and market developments in Africa and the United States
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.

Thank you for subscribing to Unhashed.