Largest Bitcoin Ownership Survey Reveals 6.2% of Americans Own Bitcoin, While 7.3% are Planning to Buy Some
A new survey highlights what the average American investor feels towards investing in Bitcoin.
01 Oct, 2019, 08:38 ET
NEW YORK, Oct. 1, 2019 /PRNewswire/ -- A new survey of 5,000 Americans between the ages of 18 and 65+ reveals the American population's position when it comes to Bitcoin ownership. The study was launched by Crypto Radar, one of the premier blogs for crypto-related news, press releases, and content related to Bitcoin and other altcoins.
Survey Question & Findings
The survey asked 5,000 Americans the following question:
What's your stance regarding Bitcoin investing?
- I do NOT own any. NOT Planning to buy any.
- Never heard of Bitcoin before.
- I do NOT own any. Planning to buy some.
- I own some. NOT planning to buy more.
- I own some. Planning to buy more.
According to the findings of the survey, when asked their stance on investing in Bitcoin, 64.8% of respondents stated that they neither owned nor planned on buying any Bitcoin. Interestingly, when demographic filters were applied to the survey results targeting individuals 55+, the percentage steadily increased. For respondents between 55 and 64-years-old, 68.8% made this selection. 74.3% of those who were 65+ likewise choose this option.
As an asset class, Bitcoin is still very young and highly volatile. Based upon the results of this survey, the present uncertainties surrounding the global economy have made American investors far less likely to choose riskier investments, especially those investors either nearing retirement, or already in their retirement years where a safe nest egg is an absolute necessity.
The next most popular response among survey respondents was 21.8% who had never heard of Bitcoin. When demographic filters were applied to the results specifically targeting females, that percentage increased to 24.6%, and soared even further to 29.6% of women between 45 and 54 years of age.
Seeing that in 2019, the fact that nearly a quarter or more of all women surveyed not to mention the full 21.8% of all respondents were unaware of Bitcoin, ought to give the crypto community pause. These survey results are indicative of the need for more education by the Bitcoin community to inform investors, especially female investors under 55.
Of the respondents to the survey, 7.3% stated that they did not own any Bitcoin, but were planning to buy some. Intriguingly, when demographic filters were applied to the survey results factoring Young Professionals between 25 to 34-years-old, the percentage rose to 8.8%, and increased further to 11.6% when males were solely targeted. Taking into account that this demographic is generally set within an established career path with disposable income, it is understandable why they are the least risk-averse to investing in a highly volatile investment like Bitcoin, given the potential for massive appreciation.
"Despite its enormous volatility, Bitcoin is a very attractive investment for those investors, especially younger investors, who are willing to ride the volatility to potential future gains," stated Terry White, head editor at Crypto Radar.
According to the survey results, a combined 6.2% of Americans already own Bitcoin, with those percentages soaring even further amongst investors between 25 and 34-years-old.
See the complete breakdown and more detailed insights from the survey at: https://cryptoradar.org/largest-bitcoin-ownership-survey-reveals-6-2-of-americans-own-bitcoin-while-7-3-are-planning-to-buy-some/
SOURCE Crypto Radar
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