2018-7-30 16:59 |
The attitude of US investors toward cryptocurrencies has shifted from “oblivious” to “aware.” But that doesn’t mean people are buying Bitcoin anytime soon. In new research, Gallup and Wells Fargo highlight investment trends in the US in the cryptocurrency sector.
The research shows that only 2 percent of US investors currently own Bitcoin, following December’s massive price surge and the subsequent fall this year. Most investors suggested that they have no interest in buying Bitcoin ever. But at least 26 percent suggested that they are intrigued by the cryptocurrency, though they have no certain or immediate reason to buy at this time.
Research Opens Doors for InvestorsThe Wells Fargo/Gallup Investor and Retirement Optimist Index Survey conducted early May 2018 takes the interests of US citizens with over $10,000 or more in investments, which could either be bonds, mutual funds or equities, whether within or outside a retirement savings account.
The study shows that only 3 percent of American men and 1 percent American women own Bitcoin. In fact, 3 percent of people aged between 18 and 49 and 1 percent of those aged 50 or more own it. It should also be noted that Bitcoin is held mostly by wealthier investors. At least 3 percent of people earning over $90,000 own Bitcoin, while only 1 percent who earn below this figure has Bitcoin investments.
The research also highlights that investor awareness in this sector is still painfully low. Only 29 percent investors say that they know at least something about digital currencies, while a whopping 67 percent say that they have heard about digital currencies but have less knowledge about what they are. At least 5 percent of investors have never heard of digital currencies before.
Investors Consider Bitcoin RiskyThree in every four investors believe that Bitcoin is a very risky investment. According to the poll, while 75 percent people believe that Bitcoin is “very risky,” 23 percent believe it is “somewhat risky” and only 2 percent believe that it is “not too risky.” Gender and age also play a major role in defining who gets to take a risk with their money since these coins are perceived to be a very unsafe and volatile investment avenue.
Gallup suggests that younger investors and men are more likely to enter the crypto sphere, as compared to senior investors and women. In fact, investors who have a portfolio value smaller than $100,000, who usually belong to the younger age group, are more likely to know about cryptocurrencies. Also, men and younger investors are more likely to say that they are “intrigued” by Bitcoin.
It is evident that women and older investors are still shying away from Bitcoin. However, the numbers are from May, when cryptocurrencies were at an embarrassing low point in valuation. Though trends won’t change so soon, a bullish crypto phase could reinforce the faith of several crypto enthusiasts.
US Investors Intrigued but Not Invested in Bitcoin, Shows Gallup Research was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.
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