The trend will accelerate sharply with the new stimulus check.

As of the beginning of March 2021, eligible U.S. citizens are receiving their $1,400 stimulus check. Individuals earning up to $80,000 per year will receive this direct payment from the U.S. government.

The stimulus check is part of the $1.9T stimulus package that passed the Senate after weeks of discussion and dithering.

This will be a welcome relief for millions of Americans still reeling from the consequences of the economic crisis that began in March 2020 with the spread of the COVID-19 pandemic around the world at breakneck speed.

In April 2020, the first stimulus check was sent to millions of Americans under the same conditions. Some used it to survive because they really needed it. Others didn’t need it to survive, so they made a bold decision that proved to be the best investment of all time a year later.

These American citizens decided at the time to buy Bitcoin with their first stimulus check of $1,200. They exchanged weak money printed out of thin air by the Fed at a rapid pace for the hardest money in the world: Bitcoin.

At a time when the price of Bitcoin is around $55K, these Americans now have the equivalent of $10K in their hands. Given the endless weakening of the U.S. dollar, this amount will continue to grow in the months and years to come.

As the new U.S. government stimulus check arrives at the homes of American citizens, many are wondering how they will use it. As I told you before, for many people, this check will be used for survival. It was, after all, sent for that purpose.

However, since the scope is rather broad, many can afford not to spend that $1,400 on necessities.

A survey has been conducted by The Harris Poll on U.S. citizens 18 years of age and older between March 12 and 15, 2021. The purpose of this study was to better understand how these American citizens intended to use the new $1,400 stimulus check this time.

Regarding the first stimulus check received in April 2020, most spent the money on necessities such as rent or groceries (43%). 36% of citizens surveyed put the money into savings, while 32% paid off their debt.

A total of 15% invested the money received, with 7% investing in cryptocurrencies, with Bitcoin being the top choice.

In the second check received in early February 2021, most Americans followed the same approach. Investment in cryptocurrencies was still around 7%, while investment in stocks or bonds had risen to 10%.

For this third stimulus check, 62% of American citizens explain that their intention is no longer just to cover necessities. Many are looking further ahead now that there is light at the end of the tunnel thanks to the massive vaccination campaigns that are being conducted in the country.

Of that 62% of Americans who want to use this money to invest, 53% want to invest in Bitcoin and cryptocurrencies. That works out to just over one in three Americans.

It’s interesting to see the evolution after a year of economic crisis and great monetary inflation.

More and more people seem to understand that keeping their money in U.S. dollars, investing in the stock market or bonds, are not the best solutions to protect their wealth. In fact, it would be the opposite when you see the endless weakening of the US dollar.

Bitcoin is clearly the alternative of choice for these millions of American citizens.

Of course, there is a world of difference between wanting to buy Bitcoin and actually doing so.

Nevertheless, the trend is clear here. The Bitcoin Positive Feedback Loop that I have been talking about since November 2020 is still in full effect:

As the price of Bitcoin rises, the media attention increases, attracting more and more investors. As the price of Bitcoin continues to rise, more and more people want to be part of the party, to use an experiment employed earlier this year by Elon Musk.

This positive loop will continue to drive up the price of Bitcoin throughout 2021. The $100k announced for the end of 2021 is often considered
a conservative prediction now.

This says a lot about the change in mindset that has taken place around Bitcoin in recent months.

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Source: https://www.inbitcoinwetrust.net/one-in-ten-americans-have-used-past-stimulus-checks-to-buy-bitcoin-what-are-others-waiting-for-7725fa235f1?source=rss——-8—————–cryptocurrency