Why did young Americans invest their stimulus checks in Bitcoin?

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US government issued a series of stimulus checks as a response to economic difficulties caused by the coronavirus pandemic. These payments were not available to everyone, but the majority of Americans qualified for them. This included many young Americans. A survey revealed that many of these youngsters had invested their stimulus checks into crypto assets, such as.

CNBC and Momentive conducted a survey and found that 11% of 5,530 people interviewed had bought cryptocurrency using stimulus money.

A majority of respondents believed that digital assets were long-term investments.

Why should you invest in Bitcoin?

Bitcoin, a decentralized digital currency that can be traded, was first traded in 2009. This asset gained popularity over the next decade and saw its value rise and fall like regular stocks. Bitcoin is often viewed as easier to access than the stock exchange by young people. Its popularity has steadily increased.

Young people may choose to invest in Bitcoin as a stimulus check because it is easier than other options.

Additionally, the majority of people who have already made a profit from investing their stimulus money in Bitcoin are likely to make a profit. According toBitcoin StimulusAnyone who had invested 1,200 dollars in stimulus checks in Bitcoin by April 2020 would have an 8,700-dollar worth of cryptocurrency.

Is there a fourth stimulus for Bitcoin investment?

Another survey has shown that most Americans have spent money received via stimulus checks. This was the goal of the program. Many who want to invest in Bitcoin will now need to wait for the fourth stimulus check.

But, is a fourth stimulus package on the horizon? It doesn’t seem likely. Some politicians are calling for another round, but most people believe that the third and final stimulus check was sent at the federal level.