Bitcoin News and Finance
Mizuho Bank Survey Says $24 Billion in US Stimulus Checks May Be Used to Buy Bitcoin Skip to main content

Mizuho Bank Survey Says $24 Billion in US Stimulus Checks May Be Used to Buy Bitcoin

Mizuho Bank Survey Says $24 Billion in US Stimulus Checks May Be Used to Buy Bitcoin

On March 15, 2021, Mizuho Securities Co., a firm wholly-owned subsidiary of Mizuho Financial Group, revealed the findings of a new survey that says a great deal of stimulus money will find its way into stock markets and the cryptocurrency economy. Participants in Mizuho’s survey made less than $150k per year and estimates suspect 10% of the $380 billion in direct stimulus checks will go toward bitcoin and stocks.

Mizuho Securities Survey Estimates $24 Billion from Stimulus Checks May be Used to Buy Bitcoin

Japanese investment banking and securities firm, Mizuho Securities, recently surveyed 235 individuals who make less than $150,000 annually. The survey covered stimulus expenses or what they expect Americans to purchase with the direct checks. Out of the whopping $1.9 trillion relief package signed by U.S. President Joe Biden, $380 billion is appropriated for direct stimulus checks. The recently published survey says that the bank estimates around 10% or $40 billion worth of the stimulus funding will find its way into stocks or purchasing bitcoin (BTC).

“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 $1.1t trillion market value,” explains Mizuho managing director Dan Dolev.

After Americans received direct stimulus checks for $1,200 and then $600, it has been assumed that lots of people spent their funds on cryptocurrencies. For instance, in mid-April Coinbase CEO Brian Armstrong tweeted about a chart that showed a spike in $1,200 deposits on the San Francisco-based exchange. The latest bill says Americans who earn $75,000 per year or less will get a payment for $1,400. Couples who earn 150k or less per year can get up to $2,800 and a couple with two children could receive up to $5,600 in direct stimulus funding.

Mizuho Survey Participants ‘Prefer Bitcoin Over Stocks’

It has also been widely reported this week, that Americans are already getting stimulus money from the U.S. government. Out of the 235 participants in Mizuho Securities’ survey, 200 said they expect stimulus payments within the “coming days.” Around two out of five of the direct stimulus check recipients say that a portion of funds will be allocated to investment purposes. The survey also noted that the survey participants also “prefer bitcoin over stocks.”

As far as stocks are concerned, survey participants mentioned buying equities in companies like Square, Paypal, Mastercard, and Visa. With bitcoin (BTC) included with those financial heavyweights, financial technology (fintech) seems to be at the forefront of investments. In addition to Mizuho Securities, Goldman Sachs’ chief U.S. equity strategist David Kostin says that U.S. households will push net equity demand to new levels. “We expect households will be the largest source of equity demand this year,” Kostin explained.

What do you think about the recent survey published by Mizuho Securities that estimates Americans will purchase bitcoin and stocks with their stimulus money? Let us know what you think about this subject in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory