2021-12-7 16:55 |
Bitcoin’s mainstream adoption is thriving, according to the world’s largest digital asset manager, Grayscale’s survey, which showed that 26% of Americans now own Bitcoin, up from 23% in 2020. And the majority of them (59%) invested in crypto via a trading app.
Interestingly, over three-quarters (77%) of U.S. investors said they would be more likely to invest in Bitcoin if an ETF existed. While three Bitcoin ETF tracking futures contracts on CME are currently trading in the market after getting approved in October, there is no sign of a spot ETF.
The online survey of 1000 US consumers was conducted between August 12 and August 20, 2021. The respondents were all between the ages of 25 and 64, with at least $10k in household investable assets and at least $50k in household income.
As per the survey, demand for the leading cryptocurrency has risen significantly, with 55% of current investors only starting investing over the last 12 months. And most of them, 66%, are “hodling.”
And those who have sold it have done so at a profit. 6 out of 10 Bitcoin investors have sold at least some of the digital assets, with 91% of them doing so at a profit.
With prices increasing, interest has been growing as well, as the market for Bitcoin investment products expanded to 59% in 2021, up from 55% in 2020 and 36% in 2019.
These investors see Bitcoin primarily as a store-of-value asset, with 55% of respondents seeing it as a long-term asset while only 37% see it as a short-term one.
In 2021, Bitcoin also showed interest from the oldest generation and women as well.
A 16% jump in this year was seen in investors between the ages of 55 and 64 who would either definitely or probably consider Bitcoin investment products. The percentage of female investors who would consider it an investment climbed 6% in 2021, while the segment of male investors in this category stayed relatively flat.
As investors become familiar with crypto, they worry less about risks, with cyberattacks at the top at 58%, volatility at second place (53%), and 51% still concerned about regulation.
Besides Bitcoin, investors are also interested in other cryptos, especially Dogecoin, with 74% of them having heard of the meme coin, and Ethereum, whose level of awareness is around 56%. More than a quarter of investors were aware of Litecoin, Tether, and Cardano.
Most Bitcoin (87%) investors also have exposure to other altcoins, with Ether the most popular here at 46%, followed by DOGE at 44%, LTC at 26%, and ADA at 15%.
BTC 5.86%
Bitcoin / USD
BTCUSD
$ 51,678.34
$3,028.35
5.86%
Volume 34.91 b
Change $3,028.35
Open $51,678.34
Circulating 18.89 m
Market Cap 976.42 b
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ETH 6.86%
Ethereum / USD
ETHUSD
$ 4,380.89
$300.53
6.86%
Volume 24.09 b
Change $300.53
Open $4,380.89
Circulating 118.64 m
Market Cap 519.76 b
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DOGE 5.28%
Dogecoin / USD
DOGEUSD
$ 0.18
$0.01
5.28%
Volume 1.31 b
Change $0.01
Open $0.18
Circulating 132.43 b
Market Cap 23.87 b
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LTC 7.60%
Litecoin / USD
LTCUSD
$ 162.72
$12.37
7.60%
Volume 1.56 b
Change $12.37
Open $162.72
Circulating 69.14 m
Market Cap 11.25 b
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ADA 7.01%
Cardano / USD
ADAUSD
$ 1.42
$0.10
7.01%
Volume 2.4 b
Change $0.10
Open $1.42
Circulating 33.31 b
Market Cap 47.42 b
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“Investors have demonstrated not only a willingness but a desire to make room for Bitcoin in their portfolios. In addition, Bitcoin acceptance has become a cross-generational phenomenon, with baby boomers increasingly interested in gaining exposure to Bitcoin investment products,” said Grayscale.
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