Mizuho: Nearly $40 billion of the new round of U.S. bailout funds was used to invest in Bitcoin and stocks

According to a survey by Mizuho Securities, 10% of the $380 billion in bailout checks to be issued by the United States may be used for investment. Dan Dolev, managing director of Mizuho Securities, said that Bitcoin is expected to account for 60% of the total investment, which could increase the market value of cryptocurrencies by as much as 3%.

Nearly $40 billion from the latest round of bailout checks may have been invested in Bitcoin and stocks, according to a new survey.

Mizuho Securities research estimates that nearly 10% of the $380 billion total could be used to buy the two assets, Yahoo Finance reported Monday.

The firm found that nearly two-fifths of Americans who expect to receive a check in the coming days expect to use some of it to invest.

Dan Dolev, managing director at Mizuho Securities, said Bitcoin is expected to account for 60% of total investments, which could increase the cryptocurrency's market value by as much as 3%.

Dolev listed a number of crypto-related companies that he believes would benefit investors the most if they were looking to invest in stocks, including Visa, Mastercard, PayPal, and Square.

The survey covered about 235 Americans with household incomes below $150,000, including about 200 who expect to receive payments from the latest round of stimulus policies.

U.S. President Joe Biden recently signed the $1.9 trillion COVID-19 relief bill, and eligible Americans will receive checks for $1,400. (CoinDesk)