More than 25% of American households surveyed own bitcoins
The cryptocurrency exchange announced the findings of a study that suggested that the number of crypto investors in the United States has quadrupled by the end of 2021. According to Grayscale Investments research, more than 55% of first-time cryptocurrency owners acquired a cryptocurrency during the previous year. According to a Grayscale Investments analysis issued last Monday, moreover, a quarter of US investors questioned (26 %) stated they currently held bitcoin. Then, 46% and 44 % of those owners also possess Ethereum (ETH) and Dogecoin (DOGE), respectively. Other three-quarters of those polled (77%) indicated they want to invest in bitcoin through an exchange-traded fund.
In fact, the poll has 1,000 participants ranging in age from 25 to 64 years old. Everyone had at least $10,000 in investable household assets (excluding employer retirement plans and real estate) and at least $50,000 in family income. Most people invest in cryptocurrencies using a trading app or a cryptocurrency exchange. Although, few people buy bitcoin BTC through a typical standalone brokerage or industry specialists. As the matter of fact, the majority of people, who rely on financial advisors for cryptocurrency have plummeted from 30% in 2020 to 11% this year.
In terms of investment strategy, three times as many investors regard Bitcoin as an investment rather than a currency. Furthermore, more than half of those polled consider BTC as a long-term investment that may complement their entire portfolio plan. However, 77% responded they have acquired BTC in the previous 12 months. According to the research, 91 percent of participants are now profiting from their investments.
In conclusion, bitcoin’s popularity has nearly uniformly increased across all age groups, genders, and educational levels. The ability to invest tiny sums of money, availability at all times and the sector’s high development potential were highlighted as the key reasons for bitcoin’s appeal by respondents. We are already witnessing a financial revolution. Many analysts believe it is a tremendous disaster for investors. But one thing is certain: cryptocurrencies have emerged as the new technology response to the outdated economic system’s inability to adapt to today’s crises, whether they be a pandemic or a chip shortage. This is since cryptocurrency is not based on natural hydrocarbons, but the gold of the future: mathematics.
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Valentyna Bereza, Team bit4you.