A new survey by Mizuho Securities estimates that 10% or nearly $40 billion of the $380 billion in direct stimulus checks may be used to buy bitcoin and stocks. The survey involved about 235 individuals with less than $150,000 household income, with about 200 expecting a third round of direct stimulus payments.
- Nearly 2-in-5 check recipients expect to use some portion of their checks to invest
- The survey predicts that bitcoin will account for 60% of total incremental investment spend.
- The survey shows that the stocks to benefit the most from people buying equities with their checks include Visa, MasterCard, PayPal, and Square.
- Goldman Sachs also projects a good chunk of the new stimulus money to be channeled into the stock market.
- Analysts see the latest round of stimulus checks as sizable enough to allow some of the funds to find their way into asset classes such as bitcoin and stocks.
- The incremental spend from stimulus checks could add as much as 2-3% to bitcoin’s current $1.1 trillion market value.
