Stimulus Check Recipients Prefer Bitcoin over Stocks

The US President, Joe Biden recently signed the American Rescue Plan to support the citizens with $1,400 stimulus checks. The stimulus check recipients are now planning to invest that money in Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term and stocks.

According to a recent survey conducted by Mizuho Securities, around $40 billion of the stimulus checks could go to Bitcoin and stocks. The survey highlighted that more recipients are interested in Bitcoin compared to the stock market.

Mizuho surveyed a total of 235 individuals with a household income of $150,000 or less. Around 40% of the respondents mentioned that they are planning to invest in BTC and financial markets. 61% of the respondents said that they would prefer Bitcoin over the stock market in case of investment.

“The survey predicts that bitcoin will account for 60% of total incremental investment spend. We calculate it could add as much as 2-3% to bitcoin's current $1.1 trillion market value," Dan Dolev, Senior Equity Analyst for Mizuho mentioned.

During an interview with CNBC on Monday, Dolev mentioned that the results were surprising for him.

Bitcoin and the Stock Market

Finance Magnates earlier reported a surge in crypto trading in South Korea. The total cryptocurrency trading volume on leading Korean digital exchanges crossed the total trading volume on the Korean Composite Stock Price Index (KOSPI) earlier this week. Just like the crypto market, global stock markets have been surging since the start of 2021. The recent survey results indicate that there is huge demand for Bitcoin and other digital currencies as new retail traders enter the market. The overall crypto market is up by more than $900 billion since the start of this year. The price of Bitcoin gained nearly 100% in the last 10 weeks.

Most of the respondents said that they expect to receive the third round of stimulus checks in the coming days. Dolev added that several companies offering services in Bitcoin Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term can take advantage of the recent investment trends.