In the last three years, the number of Americans investing in Bitcoin has increased by 200%. The ages of 13% of US investors in BTC are between 18 and 49 years old.
Trust in Bitcoin (BTC) has increased among US investors, especially those between 18 and 49. A survey that the Gallup consulting and analytics firm conducted this month reveals that data.
The number of American investors owning BTC has grown from 2% in 2018 to 6% in 2021, Gallup reports. The consultation considered those who hold more than USD 10,000 worth of bonds, stocks, mutual funds, and even retirement savings accounts.
While 13% of Bitcoin investors are between 18 and 49, 3% are people over 50. Gallup considers that the belief that Bitcoin is a highly-risky investment may have waned.
A 2018 Gallup survey indicates that 72% of US investors were not interested in buying Bitcoin. The 2021 study also reveals that male investors are almost four times more active than women in the cryptocurrency market. That data was derived from a survey measuring the Investor Optimism Index that the company conducted in recent days.
The potential market for Bitcoin among American investors has expanded since 2018. Around 2% of them currently state that they could soon buy the cryptocurrency, increasing by 100% compared to 2018.
Additionally, this year’s survey allows seeing that 58% of investors say that they are not interested in buying Bitcoin. That means that there has been a 19% reduction in the last three years. For its part, the percentage of US investors between 18 and 49 not interested in buying Bitcoin has decreased by around 32%.
Trust in Bitcoin Has Grown Among Young Investors
American investors are increasingly familiar with Bitcoin and the level of risk that they perceive in an investment. Those two factors have greatly influenced the growth in their percentage since 2018. Currently, the number of investors who have heard about cryptocurrencies has risen to 38%.
The percentage of investors viewing Bitcoin as a risky investment has decreased by 20% in the last three years. A factor contributing to this is that companies like Tesla, Square, and Morgan Stanley have invested a lot of money in Bitcoin.
Consequently, there has been a general acceptance among US investors, particularly those under 50. However, stocks, bonds, and mutual funds are still the predominant types of investment. Therefore, Bitcoin is just a complementary purchase rather than a replacement for traditional investments.
The latest Monetary Policy Report from the US Federal Reserve (FED) discusses the rise of Bitcoin and other cryptocurrencies. The government agency believes that reflects the growing appetite for risk among investors.
The relevance of Bitcoin within the world economy and its current recovery have contributed to the growing interest among Americans. It is only a matter of time before more young investors enter the trading of the pioneering cryptocurrency. Since its inception, the creation of Satoshi Nakamoto has been able to rally from its lowest levels.
By Alexander Salazar
