btcusdBTCUSDCBTCUSDTcryptocurrencyCryptocurrency NewsNewsxbtusd

Crypto Investment A Major Priority For Nearly Half Of Stimulus Recipients

Missing out on investing in the world’s most valuable digital assets is a risk that a handful of Gen Zs and Millennials residing in the United States are not willing to take.

Even though the $1,400 stimulus bill for this year (for citizens of the country to aid themselves through the global pandemic) is considered insufficient by many, a decent number of younger recipients intend to throw their money into cryptocurrency investments.

A report by HarrisPoll for Yahoo Finance discovered this after conducting its latest research. The research found that investment was a major priority for nearly half of the stimulus recipients.

Cryptocurrencies have become a promising investment option for 41% of the recipients of the recent bill that the United States Congress just passed in February, as they revealed that they aim to invest their relief bill into cryptocurrencies.

Prior to this, the previous stimulus check also saw a number of recipients participate in crypto investments. However, it seems there is a hierarchy for participants. High-income earners, about 10% from “households making more than $100,000/year” invested in crypto. 

“Of those who received the first federal stimulus payment issued in March 2020, most spent the money on necessities like rent or groceries (43%), put the money in savings (36%), or paid down debt (32%). A total of 15% invested part or all of their extra funds, with 7% investing specifically in cryptocurrencies.” 

Coincidentally the same trend carried on when the second round of stimulus checks was introduced. About 7% of recipients invested once again in cryptocurrencies. However, traditional investments …
Story continues on Zycrypto

Related posts
CoinGapeNews

American Footballer Patrick Mahomes’ NFT Collection Rakes in $3.7 Million

The NFT craze seems to have bitten sports celebrities the most as American Football Quarterback for Kansas City Patrick Mahomes sold his NFT collection in an auction garnering $3.7 million in sales. Mahomes NFT sale comes just a week after…
BitcoinBTC Trading ViewNewsNews 1Trading View

Why 'DeFi and Bitcoin can’t thrive together'

As of 19 March, the total value locked in DeFi exceeded $44 billion, having doubled since the beginning of the year. But this does not mean that the sector could overshadow Bitcoin, which is a perspecThe post Why ‘DeFi and…
BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTElon MuskNewsxbtusd

Bitcoin‌ ‌proponent‌ ‌claims ‌SpaceX‌ ‌has ‌included‌ ‌BTC ‌in‌ ‌its‌ ‌balance‌ ‌sheet‌

Anthony Scaramucci has made claims—though unsubstantiated—that Elon Musk [has] added Bitcoin to the balance sheet of his space exploration company headquartered in Hawthorne, California, SpaceX. Taking to the Twitter space, the American financier mentioned that, in addition to purchasing Bitcoin…