According to a new survey, Bitcoin has grown in popularity among younger American investors in terms of awareness, interest, and ownership over the last three years.
According to research done by global analytics and advisory firm Gallup, the number of investors in the United States owning BTC has increased from 2% in 2018 to 6% in June 2021. Adults with $10,000 or more invested in stocks, bonds, or mutual funds are defined as “investors” in the study.
It also stated that Bitcoin ownership among investors under the age of 50 has more than tripled in the last three years, rising to 13% from 3% in 2018. Unsurprisingly, ownership among the over 50s was significantly lower, at just 3%, albeit this has climbed thrice from 1% in 2018.
The analysts pointed out that Bitcoin’s ownership is quite low in comparison to more conventional assets. According to the survey, 84 percent of investors said they had invested in stock index funds or mutual funds, while 67 percent said they held individual stocks and 50 percent said they had bonded.
“At 6%, Bitcoin ownership is more equivalent to gold ownership, which is reported by 11% of investors.” The poll’s findings are based on a Gallup Investor Optimism Index survey of 1,037 investors in the United States aged 18 and above, conducted between June 22 and 29, 2021. The study’s sample was weighted to be demographically representative of the adult population in the United States, with a maximum margin of sampling error of 5%.
Other data show that the risk connected with Bitcoin has decreased over the last three years. Nearly all investors polled thought BTC was a dangerous investment, although the percentage who said it was “extremely risky” has dropped from 75% to 60%. The majority of the remaining 35% now perceive it to be “somewhat risky,” with only 5% believing it to be risk-free.
Large investments in Bitcoin by well-known corporations like Tesla, Square, and Morgan Stanley, according to Gallup, maybe lending it greater public credibility.
More than 80% of hedge fund executives and wealth managers surveyed who are already holding crypto assets want to grow their holdings, according to a similar survey conducted in May and June among institutional investors.