Survey: Americans channel $38 billion of government stimulus into Bitcoin or stocks

Recipients of stimulus payments in the US could direct $38 billion toward buying Bitcoin and stocks. Yahoo Finance reports, citing a survey by Japanese investment bank Mizuho.

The total amount of financial assistance to citizens will be $380 billion. According to the survey results, 35-40% of respondents plan to spend the funds on investments. 21% are prepared to buy assets worth no more than 20% of the amount received. More than half want to invest in Bitcoin.

Results of the Mizuho survey. Data: Yahoo Finance.

According to Goldman Sachs’ chief strategist David Kostin, the investment bank expects households to be the largest source of demand for equities this year. The bank’s analysts raised their forecast for this segment from $100 billion to $350 billion.

“This reflects faster economic growth and higher interest rates than we had anticipated previously, in addition to the extra stimulus payments to individuals and increased retail investor activity at the start of 2021,” Kostin said.

The survey was conducted among 235 Americans with household income not exceeding $150,000 per year. About 200 respondents plan to receive payments in the coming days.

According to CNN, about 90% of American households are eligible for government support. Each US resident with an income below $75,000 per year will receive $1,400. Couples with two children will receive $5,600.

Back in March, the US Senate approved a $1.9 trillion economic rescue plan aimed at countering the effects of the COVID-19 pandemic.

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