On March 15, 2021, Mizuho Securities Co., a wholly owned subsidiary of Mizuho Financial Group, unveiled the findings of a new survey that says many stimulus funds will find their way into stock markets and the cryptocurrency economy. Participants in the Mizuho survey made less than $ 150,000 a year, and they estimate that 10% of the $ 380 billion direct stimulus control goes to bitcoin and stocks.
Mizuho Securities Survey estimates $ 24 billion in stimulus checks could be used to buy Bitcoin
The Japanese investment banking and security firm Mizuho Securities recently surveyed 235 individuals earning less than $ 150,000 annually. The survey covered stimulus spending or what they expect Americans to buy with direct checks. From the huge $ 1.9 billion relief package signed by US President Joe Biden, $ 380 billion is being allocated for direct stimulus controls. The recent survey says the bank estimates that stimulus financing will find about 10% or $ 40 billion in shares or the purchase of bitcoin (BTC).
“The survey predicts that bitcoin will account for 60% of total incremental investment spending. We calculate that this could contribute as much as 2-3% to the current market value of $ 1.1 billion, ”explains Mizuho, Managing Director, Dan Dolev.
After Americans received direct stimulus checks for $ 1,200 and then $ 600, it is believed that many people spent their money on cryptocurrencies. For example, in mid-April, Coinbase CEO Brian Armstrong tweeted on a chart showing an increase in deposits of $ 1,200 on the San Francisco Stock Exchange. According to the latest account, Americans earning $ 75,000 a year or less will receive a payment of $ 1,400. Couples earning $ 150,000 or less per year can earn up to $ 2,800 and a couple with two children can receive up to $ 5,600 in direct incentive funding.
Participants in Mizuho survey prefer Bitcoin over shares
It was also widely reported this week that Americans are already receiving stimulus money from the U.S. government. Of the 235 participants in the Mizuho Securities survey, 200 said they expect stimulus payments within the next few days. About two out of five of the direct recipients of stimulus checks say that a portion of the funds will be allocated to investment purposes. The survey also noted that survey participants also ‘prefer bitcoin over stocks’.
As for the shares, the participants in the survey call for sale shares in companies such as Square, Paypal, Mastercard and Visa. With bitcoin (BTC) included in the financial heavyweights, it seems that financial technology (fintech) is at the forefront of investing. In addition to Mizuho Securities, David Kostin, chief investment officer of Goldman Sachs, says US households will push net demand for equities to new levels. “We expect households to be the largest source of equities this year,” Kostin explained.
What do you think of the recent survey published by Mizuho Securities, which estimates that Americans will buy bitcoin and stocks with their stimulus money? Let us know what you think of this topic in the comments below.
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