Survey shows one in 10 U.S. investors owns crypto despite considering it a risky asset
Investing in crypto is quickly becoming at the forefront when it comes to investing in the United States. Data has shown that the number of bitcoin investors has tripled in the past three years alone. This was mainly triggered by the bull markets that were known. A recent survey showed that the number of crypto investors continued to grow in the United States.
11% invest in crypto
The data collected showed that one in 10 people in the United States currently invests in cryptocurrency. Of the total 11% who currently invest in cryptocurrencies, the number of men was higher than that of women. Women who invested in crypto made up 7% of the female population. Men who invested in cryptos made up 16% of the male population. Disparities also appear between factors such as racial and ethnic groups and age.
Related reading | Poll shows 21% of UK investors don’t know about cryptocurrencies
Age has also shown great disparity, with younger investors being more likely to put money into cryptocurrencies than older investors. 15% of people aged 18 to 34 had invested in cryptocurrencies. The 35-64 year olds followed closely behind with 11% of its population. While the age of 65 and over was the lowest, with just 4% of that population invested in cryptocurrencies.
Interestingly though, only 3% of investors said they got into cryptocurrency because they saw the growth of digital assets. Most (60%) admitted to investing in cryptos because of the potential for long-term growth. A smaller percentage (44%) said they were investing in crypto for short-term growth opportunities. 33% said they invested for the ease of placing their own trades. And finally, 26% admitted to investing in crypto simply because of the enthusiasm associated with investing.
Related reading | Bitcoin Falls To $ 53,000 As Wall Street Wins On Appeal; And after?
New investors are leading the charge
Optimism in the market has grown, especially among new investors. When asked, a third of investors believed the price of bitcoin was linked to increased growth. While only 20% of older investors believed the price of BTC would go up more than it already has now.
Related reading | Institutional investors aren’t slowing down on Bitcoin, here’s how much they own
Half of crypto investors had only started investing last year. Most likely during the duration of the bull market. 65% said they invested using a mobile phone. While 23% use a self-service website to process their transactions.
Risk profiles varied across the board. The highest number (45%) said they believe crypto is a high risk investment. 31% chose a moderate risk, a low risk of 6% and no risk of 9%. Showing that the majority still consider cryptocurrencies to be a risky bet.
Crypto total market cap plunges as weekend opens | Source: Crypto Total Market Cap on TradingView.com
Featured image from Stopsaving.com, chart from TradingView.com