A recent survey revealed that more than half of Americans disposed of their gold or stocks to finance their Bitcoin acquisition, indicating that BTC might be the preferred asset of Americans today.
The study also highlighted that the majority of the American population already owns cryptocurrency, marking a successful crypto adoption in the US.
Bitcoin Over Gold, Stocks
A survey conducted by ChainPlay and Storible found that a large number of Americans are crypto investors who are increasing their Bitcoin holdings.
The study showed that 52% of Americans sold their gold, stocks, or other traditional assets to purchase Bitcoin, stating that this finding illustrated their confidence in the long-term value of the firstborn cryptocurrency.
ChainPlay and Storible asked 1,428 respondents about the role of cryptocurrencies in their lives. The researchers said they utilized “two attention-check questions to ensure participants answered thoughtfully.”
“Moreover, 20% of Americans are allocating more than 30% of their total investment funds to crypto, indicating that digital assets are becoming a more substantial part of their financial strategies,” the study stated.
The survey also revealed the growing popularity of memecoins among American crypto investors, saying that around 51% of crypto traders devote over 30% of their digital asset portfolios to memecoins. An indicator that this segment of the market is inclined to high-risk, high-reward crypto investments.
“The results of our survey show that cryptocurrency is becoming a mainstream asset for many Americans,” the researchers said in the study.
High Crypto Adoption
According to the survey, around 68% of US residents are cryptocurrency owners, indicating a high crypto adoption in the country.
The researchers stated that Donald Trump’s winning the US presidency sparked a renewed interest in digital assets, revealing that Trump encouraged 38% of the respondents to bolster their crypto investments.
Image: Kinesis Money
“Among those who increased their portfolios following these events, 84% are first-time buyers, showing that political milestones are effectively attracting a new wave of crypto investors,” the study said.
Moreover, about 64% of crypto owners in the US said that they urged their family members to buy digital assets. An indicator that many Americans believe in the potential of cryptocurrencies and the “importance of sharing this new investment opportunity with loved ones.”
Younger Generation Leading The Way
The study highlighted that although more younger Americans are investing in cryptocurrencies, older generations are also catching up with their digital asset investments.
“Gen Z leads the charge, starting to buy crypto at an average age of 22. Millennials follow closely behind, entering the market at the average age of 29,” the researchers explained.
On the other hand, the Baby Boomers are dipping their toes in cryptos at the age of 50.
The study illustrated that cryptocurrency does not only appeal to Gen Z Americans but also Millennials and Baby Boomers.
“With an optimistic outlook for the market in 2025, crypto ownership in the US is set to continue growing,” the study concluded.
Featured image from Pexels, chart from TradingView
