Further „stimulation“ – Next Corona aid money could also flow into crypto
High-income households in particular may consider investing their next Corona aid payments.
Most Americans will use their new Corona aid payments for basic needs and to pay off loans, but some want to invest their one-time payment in cryptocurrencies like Bitcoin (BTC).
According to a corresponding survey conducted by the market research institute Harris Poll on behalf of Yahoo Finance, 15% of Americans who have received aid The News Spy review payments have invested the entire sum or at least parts of it. Of this group, in turn, just under half have invested in cryptocurrencies such as Bitcoin and Ether (ETH).
According to the survey results, this trend will continue at the end of March when more aid money is disbursed to the American people. This time, 17% of respondents plan to invest their „votey“. The amount of possible crypto-investors remains roughly the same at 41 %.
As a reminder, the Corona aid funds in question are one-off payments of 1,400 US dollars that are given to almost all US citizens. The „stimulus checks“ are literally intended to stimulate the economy, which has been battered by the crisis.
However, the main priority for most survey participants is to cover basic living costs. Thus, 62% of respondents intend to use their aid payments for basic needs such as food, rent and medicines.
About one third of the recipients were able to save some of the money they received during the first payment round (36 %) and/or the second payment round (33 %).
According to the survey, this figure is likely to increase to 40% in the third payment round
It is hardly surprising that the propensity to invest is significantly higher in high-income households than in low-income households. Among households with incomes of more than $100,000 a year, 10% invested their first stimulus check in crypto, while 13% did so in the second round. In contrast, only 3% of households earning less than US$50,000 per year are willing to invest their aid in cryptocurrencies.
The online survey was conducted among only 1,052 adult Americans, which is a relatively small sample and may skew reality. Another survey, though with an even smaller sample, had previously concluded that just under 10% of the $400 billion in aid could soon go into bitcoin.