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Survey says that mainly youngsters in the U.S. invest in Bitcoins

Jan 28, 2018 Posted /  5027 Views

Survey says that mainly youngsters in the U.S. invest in Bitcoins

In the western world, there are very few people who haven't heard about Bitcoin and eastern world is also catching up. As the major volatility in the cryptocurrency prices occurs due to Asian markets. However, how much anyone knows or heard about it, there are very fewer chances that people are actually investing in it. So we just have to analyze and evaluate accordingly.

SurveyMonkey and Global Blockchain Business Council conducted a survey on more than 5,700 adults in January. The survey read that roughly 60% of American have heard about Bitcoin or have some knowledge about it, but only 5 percent said that they actually own this digital currency. If you will analyze the statistics provided by this survey, the Bitcoin investors have reasonably harmonious demographics. But then you will find that majority of them are males, approximately 71 percent and mainly the investments are high among youngsters, which is 58 percent. The ages are between 18 and 34. Interestingly, nearly half of these investors belong to minorities.

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Not only these the surveyors were also asked the reasons why they were bought the crypto asset. There were many interesting answers but most of them remarked lack of trust and some said that it provides them with the new opportunity for investment established with higher returns. However, the major reasons denoted that Bitcoin and cryptocurrency investments provide them with a chance to avoid government interference. About 10 percent found it an opportunity to use as a hedge against the crashes in traditional assets. More than 60 percent also said that acquiring the digital coins could also be looked at a growth investment.

If you will look at the figures of last year, then you will find that many investments were largely paid off. The leading cryptocurrency surged more than 1,400 percent in 2017, reaching a huge of more than $19,500 last month. According to Bloomberg composite data, much of that gain has been given back, Bitcoin has fallen by nearly half since December, now trading near $11,000.

Approximately 70 percent of those surveyed this month said Bitcoin will be worth somewhat to significantly more five years from now. The survey report also briefed that still many people are not convinced about its future, around 38 percent also responded that they perceive it as a bubble that’s poised to pop any moment. Not only does the general public viewed this way, but around 41 percent of Bitcoin owners that were surveyed said the identical.

Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .

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Tags: about Bitcoin Global Blockchain digital currency

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