Around $40 billion of the newest round of direct stimulus checks may be spent on bitcoin and stocks, according to research done by Mizuho Securities.
The company has estimated that, from the total of $380 billion, around 10% may be used to acquire the two asset types. This means that around 2 in 5 Americans who will receive a check in the following days are planning to use a portion of it for investing.
Bitcoin may account for 60% of the total invested, meaning that it would add around 3% to the crypto market value.
The survey was done on 235 Americans who have less than $150,000 in household income – close to 200 of them expect to receive payments from the newest round of stimulus.
This $1.9 trillion COVID-19 relief package that was recently signed into law by President Joe Biden will offer eligible Americans checks for $1,400.