New research shows that most Americans waiting for the next round of stimulus checks on help accounts will use the money to buy necessities and pay down debt, but some are still willing to invest in cryptocurrencies like Bitcoin (BTC).
A survey conducted by Harris Poll on behalf of Yahoo Finance found that 15% of people who received the last two rounds of incentive reviews sent part or all of their money to investments. Among this group, about half have invested specifically in cryptocurrencies such as Bitcoin and Ether (ETH).
This trend is expected to continue after the first stimulus checks are sent out at the end of March, according to the results of the survey. The number of recipients planning to invest some of the checks this time increases to 17%, while the total number of cryptocurrency buyers remains fairly stable at 41% of the pool of potential investors.
Paying for basic necessities such as rent, food and medicine was the main concern of the respondents, 62% of them said that they needed funds to meet basic needs.
Large segment managed to save some of the money generated by the first (36%) and second (33%) incentive control, and recent responses indicate that this figure is expected to rise to 40% after the issuance of the third check.
A willingness to experiment financially with COVID-19 incentive money is easier to find in high-income households. Among respondents from households earning more than $ 100,000 a year, 10% invested in cryptocurrencies using the first incentive scan and 13% using the second. This figure is expected to rise to 14% this time. In comparison, only 3% of families earning less than $ 50,000 a year could or wanted to invest in cryptocurrencies.
The survey was conducted among 1052 American adults in the electronic environment, which naturally skewed the data. Another recent study from a much smaller sample found that around 10% of the $ 400 billion allocated to individuals in the next round of incentive checks could go to Bitcoin.