11% of Americans reportedly invested in cryptocurrencies
While this is not the first survey related to the use of cryptocurrencies, this one is somewhat different from the others. It is indeed conducted by a company a priori completely independent of the digital assets sector. Now, “neutral” surveys are rather rare.
It is therefore with great interest that specialists have watched this survey, whose figures are very interesting and positive for the adoption of cryptocurrencies, at least as an investment and store of value.
An investment in cryptocurrencies rather in the long term
While 11% of Americans seems small in proportion, that’s still about 35 million people. Above all, it is a significant figure in view of the sometimes tarnished image of crypto-assets given by the mainstream media.
The study even went so far as to analyze investments by gender. In fact, it was 16% of American men who invested in digital assets, compared to 7% of women. Furthermore, it is within the 18-34 age group that we find the most investors (15%) compared to 11% among 35-64 year olds and 4% among those aged 65 and over.
This survey also tells us that they tend to be long-term investors. 60% of them buy cryptocurrencies for their potential more than a year after purchase.
In contrast, 44% invest hoping for strong growth over a short period. Note also the large share of gamers: 26% buy these digital assets just for the sake of investing.
Finally, half of current investors acquired their first crypto-assets in the past year. More anecdotally, three times as many mobile app users are making their transactions.
Uncertainty remains for Americans who have invested in cryptocurrencies
Another element of the survey is that American investors are overwhelmingly going into the unknown. Indeed, 44% of them do not know where Bitcoin (BTC) will be at the end of 2021. This data is to be put in parallel with the image that these same investors have on the purchase of cryptocurrencies. And they are more measured than one might think.
45% of investors concede that it’s a high-risk investment. If we add those who only mention a moderate risk (31%), that’s a total of 76% of investors who are aware of putting their money into a risky asset.
The final figure will surprise many. Recent investors are more optimistic than those who invested before 2019. Indeed, among newcomers, 36% see the price of BTC still rising. They are only 20% among early adopters. The total of the two, 56%, is still low whilee might have expected more optimism on this point.
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About the author: Benjamin Allouch
Lawyer specialized in digital and personal data law. He quickly became interested in bitcoin and blockchain technology, and founded the blog bitcoin-blockchain.fr. He is interested in the emergence of blockchain law and the legal consequences of this technology.
All articles by Benjamin Allouch.