According to a recent study, cryptocurrency investors in the United States have invested an average of $1,707 in such assets. Even if they had to settle a critical debt or a crucial payment, 37% of them said they would not touch these assets.
Elon Musk, as one might anticipate, is the celebrity who has the greatest influence on the majority of respondents’ crypto-related decisions.
Many people in the United States have ‘Diamond Hands.’
GamblersPick, a betting site, polled 1,000 US digital asset investors and found that a significant portion of them (37 percent) would defend their crypto holdings at all costs. 51 percent went even further, saying they don’t see luxury expenditures as a compelling reason to cash in.
When looking at the different generations, the Baby Boomers are the ones who have invested the most in the crypto market, while Generation Z is the one that has invested the least. Male Americans have an average of $1,940 in digital assets and appear to be more interested in the topic than female Americans. Females have a median income of $1,375.
According to GamblersPick, demand for cryptocurrencies among US investors is increasing to the point where loans and borrowing money from friends and family are frequent ways to get into the market. According to the findings, every fourth respondent used their credit card to purchase digital goods.
Investors revealed their goals for the following 12 months, revealing that they intend to allocate an additional $1,645 on average. Men led the numbers once again, indicating they would invest $1,988 each, while women would invest $1,100.
Elon Musk is in charge of the actions of 35% of the population.
The study also revealed why investors choose to join the cryptocurrency bandwagon. The vast majority of respondents (75%) believe the value of digital assets will rise in the future. Crypto is seen by 32 percent of respondents as a method to diversify their investments, while 24 percent believe it will provide good returns.
Given the economy’s current state, the widespread printing of national currencies, and the ongoing COVID-19 pandemic, it’s no surprise that 21% of respondents chose “hedge against inflation” as a rationale.
Social media and online forums appear to have a substantial influence on crypto-related decisions made by US investors. With 34 percent of the vote, Reddit came out on top, followed by Twitter, YouTube, and Facebook with 26 percent, 23 percent, and 16 percent of the vote, respectively.
One man, though, inspires more than any of the aforementioned businesses. Elon Musk’s name is Elon Musk, and 35% of those polled acknowledged to making bitcoin investment decisions based on his recent statements, tweets, or thoughts. Warren Buffett came in second with 9%, while Snoop Dogg, the rap sensation, came in third with 7%.