Survey: 8% of Americans invest in cryptocurrency

Bitcoin (BTC) – A survey published by the analyst firm Harris Insights at the beginning of the month revealed that about 8% of American adults are invested in cryptocurrency. While this number is in contrast to a similar survey conducted by Gallup in 2016, which found approximately 52% of the US shares, it shows a substantial composition of the investment for the relatively young industry.

The results come from an "investigation first spread in June 2018, coinciding with the Gem Cryptocurrency app. In addition to finding the 8% of adults currently invested in cryptocurrency, a large response to digital resources was negative, with 41% of the 2,000 respondents saying they had not been invested in the crypto and nothing could motivate them to change their minds in to do it. Similarly to previous reported results, the main reason for the lack of interest in cryptocurrency was price volatility and the belief that the current market is still in a "Wild West" phase, two risky characteristics that make the form of investment less attractive for previous generations. However, the survey found that younger investors and those with lower total capital were much more willing to participate in the risky market, with Micah Winkelspecht, founder and CEO of Gem,

"We find that young people with less income are more willing to put money in crypto, My guess is that cryptography is digital, and the younger generation is digital and used to doing everything on the Internet. "

of the most surprising results of the survey was the reluctance of adults interviewed, of any age, who earn over $ 100,000 a year to invest in cryptocurrency, with the percentage of crypto investors increasing with the decrease in annual income. In addition to the cryptocurrencies that are most popular for younger generations, Winkelspecht also states that the positive side of cryptographic investment outweighs the risk of loss and volatility for younger adults with lower overall capital. He also admits that the tendency of less wealthy investors to put money in cryptocurrency could be an effort to "get rich quick", ignoring the significant risks posed by the market in an attempt to cash in the industry's normal double-digit swings.

"The cryptocurrency space is still in its Wild West phase, so it's potentially a little bit of what's going on.When you have less to protect, you're more willing to take the risk." [19659005] As Fortune points out, the investigation was conducted in the middle of an extremely bearish year for cryptocurrency, with Bitcoin falling from a historical high last December of about $ 20,000 to less than $ 7,000. , making the investment much more volatile with a less attractive rise than when the same survey was conducted in the fourth quarter of last year. Rather than continue to create enthusiasm for blockchain, adoption of Bitcoin and cryptography, most of the industry conversation in 2018 has shifted to increased regulation and the possibility of a Bitcoin-based exchange-traded fund.

Although only 8% of the surveyed investors currently participate in the cryptocurrency, the survey found that 50% of American adults are interested in proving the class of activity in the future, similar to a discovery reported [19659002] at the beginning of the month in which the cryptocurrency will constitute 5% of all investments in 2019. With the SEC continuing to evaluate the debate on Bitcoin ETFs, it is possible that the market continues to grow exponentially in response to the increase in regulation that attracts institutional investors.

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