05.03.2024

New US Stimulus Package May Raise Additional $ 38 Billion In Bitcoin

Recipients of direct incentive payments totaling $ 380 billion can spend 10% of this on buying bitcoin and stocks. Such data is provided by Yahoo! Finance with reference to the results of a survey of the Japanese investment banking company Mizuho Securities.

Mizuho Managing Director Dan Dolev announced that they have interviewed about 235 individuals whose household income is less than $ 150,000. Of these, about 200 expect to receive third round payments in the coming days.

Nearly one in two in five recipients of checks said they would use some of the money they received to invest. At the same time, the majority of survey participants give preference to bitcoin over stocks.

“The survey results show that bitcoin accounts for about 60% of planned investments. We calculated that this could be an increase of 2-3% to the current Bitcoin capitalization of $ 1.1 trillion , ”writes Dolev.

The data collected also indicates that the preferred promotions among the recipients of incentive payments are Visa, MasterCard, PayPal and Square. Analysts at Goldman Sachs came to similar conclusions in their research.

“We expect households to be the largest source of demand for stocks this year. We raise our outlook for household stock demand from $ 100bn to $ 350bn reflecting faster economic growth and higher interest rates than previously anticipated, in addition to additional incentive payments to individuals and increased retail investor activity in early 2021 of the year, ” writes David Kostin, lead stock market strategist at Goldman Sachs.

According to CNN, about 90% of US households are eligible for benefits. Eligible citizens are entitled to checks for $ 1,400, and a couple with two children can expect to receive $ 5,600.

Robert Kiyosaki: Buy More Gold, Silver Bitcoin

Bestselling Rich Dad Poor Dad author and entrepreneur Robert Kiyosaki also shared his thoughts on the implications of the $ 1.9 trillion government measures to support the US economy.

“Millions of people are very happy that the authorities have adopted a stimulus package worth $ 1.9 trillion. Who doesn’t like free money? The problem is that that kind of money makes the poorer the poor and the middle class. Buy more gold, silver and bitcoins. «

Kiyosaki’s tweet was approvingly reacted by Republican Party spokesman Cynthia Lammis. She previously announced her intention to bring the Bitcoin discussion to the national level.

In mid-December, Robert Kiyosaki predicted Bitcoin’s rise to $ 50,000. Last April, he predicted the death of the US dollar due to the Fed’s policy and advised buying gold or the first cryptocurrency.

The U.S. Senate has approved a $ 1.9 trillion economic bailout plan aimed at tackling the fallout from the COVID-19 pandemic.

The measures proposed by US President Joe Biden provide for the payment of $ 1,400 to citizens with a salary of less than $ 75,000 a year. Another provision extends the unemployed support plan until September.

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