Bitcoin and crypto filling the pockets of Eleven percent of Americans

By: Bharggavi Ssayee

Bitcoin and crypto filling the pockets of Eleven percent of Americans

September 3, 2021 6:54 AM

11% of Americans have invested in cryptocurrencies. The latter mainly attract young men between the ages of 18 and 35. This CNBC survey shows the most interesting reliefs in the cryptocurrency landscape in the United States.


Bitcoin and cryptocurrencies in the long term: 60% of investors believe in it

An August 2021 CNBC study found that 11% of Americans invest in cryptocurrencies. By comparison, 10% hold exchange-traded funds (ETFs), 31% own stocks, 25% invest in mutual investments and 12% in bonds.


In terms of gender and age, cryptocurrency investments attract more men than women, 16% versus 7%. 15% are young people between 18 and 35 years old, 11% people between 35 and 64 years old, and 4% investors over 65 years old.


What are the factors that drove these investors to dive into Bitcoin and cryptocurrencies? Only 3% started investing in them because they were motivated by their growth. 60% have invested in them because of their long-term potential, compared to 44% who believe in their high growth potential in the short term. 33% opt for cryptocurrencies because it allows them to easily and easily carry out their own transactions. 26% of Americans embark on the adventure out of curiosity and excitation.


Social media and financial education, Bitcoin before and after 2019

What are the devices most used by investors to carry out their transactions? 65% use a mobile application, while 23% use self-service platforms on websites.


Another trend emerging from the study is the role of social media as a financial education tool for younger people. 12% of investors between 18 and 34 have learned to invest on social networks, against 3% for those 35-64 and 1% for those 65 and over. 15% of 18-34 year olds seek the advice of their brokers or financial advisers before investing, compared to 27% for 35-64 year olds, and 52% for those 65 and over


And we end with a few words on Bitcoin (BTC) in particular. New investors are more enthusiastic about investing in Bitcoin, compared to those who started investing in it before 2019. 36% of these new investors believe that the price of Bitcoin will continue to rise, compared to 20% for the new investors. investors before 2019.


And what about the adoption of cryptocurrencies beyond Uncle Sam's borders? The recent study by Chainalysis shows a strong domination of emerging markets in the top 20, the United States even losing 2 places in the ranking.