Wells Fargo Sees $150B Tax Refund Boost for Bitcoin, Stocks

Wells Fargo analysts forecast a resurgence of the “YOLO” trading trend as the U.S. tax refund season approaches, potentially injecting $150 billion into the market by the end of March. Analyst Ohsung Kwon suggests this influx could bolster risk assets like Bitcoin and stocks. The bank anticipates that high-income consumers will reinvest their additional savings into the stock market, significantly enhancing investment sentiment. Stocks such as Robinhood and Boeing are highlighted as potential outperformers during this period.