State of play – 11% of Americans have invested in cryptocurrencies. These attract mostly young men between 18 and 35 years old. This CNBC survey shows the most interesting reliefs of the cryptocurrency landscape in the US.
Bitcoin and cryptocurrencies in the long run: 60% of investors believe in them
An August 2021 CNBC survey reveals that 11% of Americans are investing in cryptocurrencies. By comparison, 10% hold exchange-traded funds (ETFs), 31% own stocks, 25% invest in pooled investments and 12% in bonds.
In terms of gender and age, cryptocurrency investments attract more men than women, 16% versus 7%. 15% are young people between the ages of 18 and 35, 11% are between 35 and 64, and 4% are investors over 65.
What factors caused these investors to dive into Bitcoin and cryptocurrencies? Only 3% started investing in them because of their growth. 60% invested in them because of their long-term potential, compared to 44% who believe in their high growth potential in the short term. 33% opt for cryptocurrencies because, it allows them to self-trade easily. 26% of Americans are jumping in out of curiosity and excitement.
What devices do investors use most to trade? 65% use a mobile app, while 23% use self-service platforms on websites.
Another trend that emerges from the study is the role of social media as a financial education tool for younger people. 12% of investors aged 18-34 have learned about investing on social media, compared to 3% of 35-64 year olds and 1% of those aged 65+. 15% of 18-34 year olds seek advice from their brokers or financial advisors before investing, compared to 27% for 35-64 year olds, and 52% for those 65 and over
And we end with a few words about Bitcoin (BTC) in particular. New investors are more enthusiastic about investing in Bitcoin, compared to those who started investing in it before 2019. 36% of these new investors think the price of Bitcoin will continue to rise, compared to 20% for pre-2019 investors.
And what about Cryptocurrency adoption beyond Uncle Sam’s borders? Chainalysis’ recent study shows a strong domination of emerging markets in the top 20, with the US even dropping 2 places in the ranking.
Bitcoin, EndDecentralized economy, crypto-assets… all notions that are becoming more and more part of everyday life. Take the lead and start accumulating and trading your first bitcoins by registering on the reference platform FTX and get a lifetime discount on your trading fees (affiliate link).