Crypto

Stimulus Checks Boost Crypto Investments in the US

The Harris Insight Poll has published findings that 7% of Americas have used their stimulus checks to invest in cryptos. Due to the increase of the market prices recently, these investors have been able to gain more profits depending on when they invested in the digital asset industry.

The research, comprising of 1000 Americans tried as much as possible to cover all demographics. According to the polls, 29% of the respondents claimed that their financial status was badly affected by the Covid-19 pandemic, while nearly 52% of the respondents said that their status did not change, financially. The remaining 20% of the poll said their finances was in a better place after the pandemic.

The polls also showed that 53% of the respondents said they would invest in cryptocurrencies with the new stimulus checks, an indication that most Americans were looking to invest in assets that were most likely going to help them maintain their net worth.

Willy Woo, a crypto market analyst, in one of his recent tweet stated that roughly 100,000 new Bitcoin users enter the market daily. According to Woo, the crypto market could have close to one billion users in the next four years. This figure could be much higher as it is difficult to keep tabs on the number of new users the platform sees daily.

Regardless of this, there is no denying that the userbase of cryptocurrencies has increased exponentially over time, and current indications show that it would continue to rise.

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