According to a survey by CNBC and Momentive, about 11% of US citizens invest in cryptocurrencies, mostly people under 35. The older generation considers investing in cryptoassets risky.
CNBC and Momentive surveyed 5,530 Americans. It turned out that more men than women invest in cryptocurrencies (16% versus 7%), regardless of race and ethnic group. Crypto-assets are popular among young and middle-aged people: from 18 to 34 years old (15%), from 35 to 64 years old (11%), and among people over 65, only 4% of investors turned out to be.
As for the reasons for investing in cryptocurrencies, only 3% of survey participants began to invest in them, inspired by the growth of the cryptocurrency market. The majority of investors (60%) who own cryptoassets are confident in their long-term growth, and 44% of respondents expect that the rate of their purchased cryptocurrencies will rise in a short period of time. 33% of investors entered the cryptocurrency market because of the ease of transactions, and 26% because of the passion for investments. Half of the respondents started investing in digital assets during this year, of which 65% use a mobile app for trading, and 23% make transactions through websites.
Investors’ opinions on how much Bitcoin will cost by the end of 2021 vary widely. 21% of respondents believe that the BTC rate will be much higher than its current value, 14% are confident in the opposite, and another 14% suggested that the Bitcoin price will remain unchanged. BTC is trading at around $ 48,000 today.
Almost half of the respondents (45%) believe that investing in cryptocurrencies involves a high level of risk, especially older people (63%). Only 9% of the total number of survey participants do not see any danger in cryptocurrencies. Many younger generation investors believe that with the help of cryptocurrencies it is possible to make a profit in a short time. People who started investing in cryptoassets after 2019 are more optimistic about them. About a third of “newly minted” investors (36%) are confident that over time, the bitcoin rate will only grow.
According to a recent GamblersPick survey, many US cryptocurrency investors plan to hold their cryptoassets regardless of market conditions.
