As Joe Biden signed the $40 billion Covid-relief bill, IRS is issuing the third round of stimulus checks, totaling $380 billion to over 90% of Americans that are eligible. According to the survey of Mizuho Securities, nearly $40 billion, or 10% of the checks may go to Bitcoin and stocks.
Mizuho team surveyed approximately 235 individuals with less than $150k household income. According to the survey, 2 out of 5 of the recipients expect to use the check on investment, and they prefer Bitcoin over stocks.
In another word, 60% of the “stimulus check investment” will go to Bitcoin, which could increase Bitcoin’s market value by 3%, says Mizuho Securities managing director Dan Dolev.
Quoting Market Watch: “Bitcoin is the preferred investment choice among check recipients. It comprises nearly 60% of the incremental spend, which may imply $25 billion of incremental spend on bitcoin from stimulus checks,” wrote Mizuho analysts Dan Dolev and Ryan Coyne, in a Monday note (see chart above). “This represents 2–3% of Bitcoin’s current$1.1 trillion market cap.”
Among the Bitcoin investment options like Visa, Mastercard, PayPal, and Square, Bitcoin mining token investment like DHM, and Ethereum mining token like Icarus are also available for the recipients.
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