A survey has revealed that Bitcoin (BTC) has gained traction with younger U.S. investors across a broad expanse of increasing awareness, interest, and ownership – and in fact, over 3x more American investors are now holding BTC than in 2018!
That’s right: according to a recently conducted survey published by Cointelgraph.com last week, the number of investors owning BTC has tripled over the past three years!
Investors Have Tripled Bitcoin Ownership Since 2018
“Perhaps, as a result, bitcoin is inching closer to a general acceptance among U.S. investors, particularly with those under age 50. Not only do 13% of these relatively young investors own it, but their familiarity with it and willingness to buy it have risen to majority levels.”
The overall percentage of Americans holding BTC tripled between 2018 and 2021 despite the majority of investors claiming to view the asset as a highly speculative investment, according to the recently conducted survey found on Cointelegraph, with 60% of investors viewing the cryptocurrency as quote-unquote “a high-risk bet.”
Despite this, along with the plethora of anti-crypto/negative-Bitcoin news stories and public sentiment this past year, it has done nothing to halt the growth of the BTC network. And at this point, it looks as though almost nothing can stop the inevitable rise of BTC as a globally dominant currency.
However, the percentage of respondents in the survey that called bitcoin “very risky” fell to 60% this year from 75% in 2018, the survey showed. Just 5% said it was “not too risky” or “not risky at all.”
Closing Thoughts
“Three years ago, a (very) small percentage of investors reported owning bitcoin, most reported having little knowledge of it, and majorities — regardless of gender or age — expressed limited interest in ever buying it. Since then, the price of bitcoin has grown by over 300%, well outpacing the market’s roughly 40% increase over the same period.”
It is worth noting that the survey showed the vast majority of BTC investors were young males. This demographic has by far been the biggest proponents of cryptocurrency adoption, while unfortunately, women and the elderly remain among the far less involved.
Overall though, this exponential growth should be celebrated and looked at as the logical precursor before an inevitably much-larger influx of retail interest into cryptocurrency.
The rise of BTC will usher in not only a new way of how society interacts with money, but it will undoubtedly also pave the way for countless other blockchain projects and cryptocurrencies to carve out a spot for themselves in these emerging markets of the future.
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