Biden threatens to deliver 100 million checks in the next 10 days, and tens of billions of dollars will be used to sweep Bitcoin?

Cailian Press (Shanghai, editor Xiaoxiang) reported that US President Biden vowed to announce a "double 100 million" plan on Monday (March 15). The United States will achieve two important goals in the next 10 days: complete 100 million doses of new crown vaccine and send 100 million stimulus checks to the American people.

"Vaccines in arms and money in pockets" have apparently become the two top priorities of the Biden administration since it took office. And for ordinary Americans, after their wallets are bulging, it may be time to think about how to spend the money.

Biden's $1.9 trillion coronavirus relief bill includes a third round of stimulus checks, which will give most eligible people up to $1,400. A new survey shows that some of the funds are likely to flow into the cryptocurrency market.

A survey released by Mizuho Securities on Monday estimated that 10% of the approximately $400 billion in checks provided directly to U.S. residents could be used to buy Bitcoin and stocks (equivalent to nearly $40 billion).

Nearly 40% of the respondents expect to use part of their funds for investment. 61% of the respondents said they would choose Bitcoin instead of stocks. Mizuho's survey interviewed 235 Americans with a household income of less than $150,000.

Mizuho analyst Dan Dolev pointed out that it is not surprising that nearly two-fifths of respondents want to invest part of their funds. Bitcoin is the preferred investment choice for these check recipients, accounting for nearly 60% of the incremental investment expenditure, which means that $25 billion of the $400 billion stimulus check funds may be used to buy Bitcoin, which will increase its overall market value by another 2%-3%.

In fact, if Americans had invested in Bitcoin when they received the first two rounds of relief payments, they might have made a fortune now. In April 2020, the US government provided Americans with a direct relief payment of $1,200, and another $600 check in January this year. Cryptocurrency users who invested all $1,200 in Bitcoin last year may have earned as much as $10,000 after Bitcoin rose to more than $60,000 this year.

Given the American people's enthusiastic interest in Bitcoin investment, it is no wonder that it has firmly occupied the throne of the best performing asset so far this year according to Goldman Sachs statistics.

It is worth mentioning that as the price of Bitcoin has exploded over the past year, the number of Bitcoin ATMs across the United States has also increased rapidly.

According to independent research website howmanybitcoinatms.com, as of January this year, there were 28,185 Bitcoin ATMs in the United States. That’s an increase of nearly 10,000 in just five months. Some ATMs only offer Bitcoin, while others allow customers to invest in a variety of digital currencies.