Most Americans who expect to receive another round of control stimulus bills for relief will use the money to buy supplies and pay off debts, but some are still willing to invest in cryptocurrencies like bitcoin.BTC) reveals a new poll.
AND studies conducted by Harris Poll on behalf of Yahoo Finance, showed that 15% of people who received the last two rounds of stimulus checks directed some or all of their money for investment. Of this group, about half invested in cryptocurrencies such as bitcoins and ether (ETH) in particular.
This trend is expected to continue once the first of the latest stimulus checks is sent at the end of March, according to the survey. The number of recipients planning to invest some of their checks will increase to 17% this time, while the total number of cryptocurren buyers remains relatively stable, at 41% of the potential investor group.
Respondents’ main concern was the payment of basic necessities, such as rent, food and medicine, of which 62% said they needed funds to cover the cost of basic necessities.
A significant segment was still able to save some of the money earned from the first stimulus check (36%) and the second (33%), and the latest responses show that an increase to 40% is expected when the third check is issued.
The willingness to experiment financially with COVID-19 stimulus funds is easier to find in high-income households. Of household respondents earning more than $ 100,000 a year, 10% invested in cryptocurrencies using their first pacing check and 13% with the second. This figure is expected to rise to 14% this time. Comparably, only 3% of households earning less than $ 50,000 a year were able or willing to invest in cryptocurrencies.
The survey was conducted on 1,052 adults in the United States online, which naturally skews the data. Another recent survey from a much smaller sample size suggested that approximately 10% of the $ 400 billion spent to individuals in the next round of stimulus checks could end up in bitcoin.