PEOPLE ALSO INVESTING COVID MONEY INTO CRYPTOS

Some of the finance people received as state Covid compensation is being used to buy cryptocurrencies.

In the United States, news channel CNBC and the survey technology firm Momentive questioned 5,530 adults as to how they invested their stimulus checks, i.e. the money they had received from the government as part of an array of compensation delivered during the COVID-19 pandemic. It turned out that about 11% of citizens in the 18–35 age range had invested in cryptos. 

Investment in shares and funds

About half of respondents had decided to follow a relatively diverse investment strategy: 15% into shares, 9% into common funds, and 6% supported exchange-traded funds. A full 60% of those who had opted for cryptocurrencies saw their investment as long-term. For 21% it was a short-term matter, with an additional 26% being crypto enthusiasts. 

It seems that the appetite for cryptocurrencies among America’s young is growing. A Harris poll in March indicated that 7.5% of respondents were investing their stimulus checks at that time into digital assets. 

Who actually earned the most?

With rising prices, those who invested last year have made a mint. Investors with the biggest returns were those who splashed their entire 1,200 dollars, issued them on 15 April last year, on BTC. This week they have made approx. 8,600 dollars – a profit of over 600%.

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