- 40% of the respondents planned to use a portion of their money to invest in bitcoin and stocks
- According to the Mizuho calculation at least $40 billion from the $380billion in stimulus checks could go to the assets
Recently a survey was conducted by Mizuho and found that people are more keen to invest in bitcoin than stocks. Almost 60 percent of respondents are interested in bitcoin.
Mizuho has organized a survey, which found that $40billion of COVID19 relief bill funds sent to Americans might go to bitcoin and other stocks. The analysts of Mizuho conducted this survey after speaking to almost 235 people.
Dan Dolev, an analyst from Mizuho who conducted the survey, has spoken to the families who have a household income of $150,000 or less. This was revealed in the survey, which was released on Monday.
Survey by the team
The team had informed that during the survey they have found almost 40% of the respondents planned to use a portion of their money to invest in bitcoin and stocks. According to the Mizuho calculation at least $40 billion from the $380 billion in stimulus checks could go to the assets.
The survey also highlighted that most of the respondents are more interested to invest in bitcoin than stocks. Among the respondents who said they plan on investing, 61% of them would like to invest in bitcoin and rest 39% would be more comfortable in investing in stocks.
Bitcoin is the preferred choice
Dan Dolev, senior equity analyst has informed that the survey highlights that bitcoin will account for 60% of total investment spend. This means as per the calculation only 2 to 3 percent will be added to bitcoin’s current $1.1trillion market value.
The bitcoin has hit an all time high of $61,000 per coin during the weekend. This has happened as the institutional investors demand increased unexpectedly which led to the rise of bitcoin. However, in the Monday trading session the currency is pushed back.
Dolev has also said that there are many crypto related firms that will benefit from investors’ stimulus check moves including Visa, Mastercard, PayPal, and Square. While talking to CNBC Dolev informed he was surprised by the results of the survey so he along with his team rechecked the data and spent a lot of time on it.
Although the result of the survey is very surprising, Dolev believes that this has shown the accurate representation of the consumers interest and their forward thinking approach on how to spend their stimulus check.
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