Crypto investment is fast becoming front and center when it comes to investing in the United States. Data has shown that the number of bitcoin investors has tripled in the last three years alone. This has mostly been sparked by the bull markets that have been experienced. A recent survey has shown the number of crypto investors has continued to grow in the United States.
11% Invest In Crypto
The data collected showed that one in 10 people in the United States currently invests in cryptocurrency. From the total 11% who currently invest in cryptocurrencies, the number of men was higher than that of women. Women who invested in crypto made up 7% of the female population. Men who invested in cryptos made up 16% of the male population. With disparities also showing across factors like racial and ethnic groups and age.
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Age also showed a wide disparity with younger investors more likely to put money in cryptocurrencies than older investors. 15% of people aged 18-34 had made investments in cryptocurrencies. Ages 35-64 followed closely behind with 11% of its population. While age 65 and above was the lowest, with only 4% of this population invested in cryptocurrencies.
Interestingly though, only 3% of investors said that they had gotten into cryptocurrencies because they saw the growth of the digital assets. Most (60%) admitted to investing in cryptos because of the long-term growth potential. A lesser percentage (44%) said they were investing in crypto for the possibilities of short-term growth. 33% said they invested for the ease of placing their own trades. And last but not least, 26% admitted to investing in crypto just because of the excitement associated with investing.
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New Investors Are Leading The Charge
Optimism in the market has grown, especially among new investors. When polled, a third of the investors believed that the price of bitcoin was bound for more growth. While only 20% of older investors believed that the price of BTC was set to grow more than it already has now.
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Half of the crypto investors had only started investing in the last year. Most likely getting in during the duration of the bull market. 65% said they invested using a mobile phone. While 23% use a self-service website to place their trades.
Risk profiles varied across the board. The highest number (45%) said they believed crypto to be a high-risk investment. 31% chose moderate risk, low risk was 6%, and no risk was 9%. Showing that the majority still consider cryptocurrencies to be a risky bet.
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Featured image from Stopsaving.com, chart from TradingView.com