$40B of Stimmy Checks for Bitcoin?

Happy Monday Blockfolians!

The Lede

The $1.9T stimulus is here, and coming with it is about $400B in direct payments to Americans. According to a new survey from Mizuho Securities suggests that 2 in 5 check recipients are going to spend them on bitcoin and stocks, and estimate overall that 10% - $40B - could end up going into these investments.

What’s more, bitcoin was a much more popular investment target for this group than stocks.

Whatever the real number ends up being, it’s been encouraging to see media latch on to this story not with skepticism but excitement. The tide is turning and crypto cannot be ignored.

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Community Commentary

This is truly an insane statistic
For real tho

A Really Big Number We Should Be Paying Attention To

187,426

That’s the number of bitcoins bought by retail investors this quarter, compared to 172,684 for institutional investors.


Final Thought

Inevitable.