Americans’ Stimulus Payments to Spur Trading in Bitcoin, Equities
Out of the next round of stimulus payments valued at $1,400, over 10% of the $380 billion is expected to be spent on Bitcoin and stocks.
A recent survey by Japanese investment bank Mizuho Securities indicates an increasing interest among Americans to invest their stimulus payments in trading markets, with equities and Bitcoin set to be the biggest gainers. Out of the next round of stimulus payments valued at $1,400, over 10% of the $380 billion is expected to be spent on Bitcoin and stocks.
The survey conducted by the bank reveals that nearly 40% of respondents are planning to invest their direct payments into equities and Bitcoin. In addition, 61% respondents reportedly will prefer to invest in Bitcoin over stocks.
According to estimates, the increased investor interest could send Bitcoin’s market cap higher by up to 3% in the near future. The world’s largest cryptocurrency has already crossed a market cap of $1 trillion.
Also set to receive a boost are US equity markets, with Goldman Sachs estimating that Americans could invest around $350 billion of their capital into trading stocks and Bitcoin. The higher capital for investment would come from an improvement in US economic growth, higher retail activity as well as the next round of stimulus payments reaching bank accounts in the next few days.
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