Eligible Americans began receiving $ 1,400 stimulus checks as part of President Joe Biden's $ 1.9 trillion COVID-19 aid package.
According to a survey of 235 Americans by Mizuho Securities, a significant amount of people may be planning to spend it on Bitcoin.
Of the respondents, almost 2 out of 5 said they would use the money to invest. While many are considering investing in stocks, the survey indicated that about 60% of the total invested, $ 40 billion, would be used to buy Bitcoin.
If realized, the amount invested collectively by these people can add up to 3% to the market value of Bitcoin, considering the current price of $ 59,000 and the beautiful market capitalization of more than $ 1 trillion.