TL;DR Breakdown
• A University in Chicago started the research with 1,000 respondents.
• Crypto investment takes off since Bitcoin hit its all-time high in April.
According to some studies by the institute in Chicago, at least one in ten citizens in the United States has made a crypto investment. The prestigious university in Chicago shows how Ethereum and Bitcoin have achieved success since last year.
According to research, 13 percent of citizens in the country have bought cryptocurrencies in the last year. These crypto investments are compared to buying stocks that increased 24 percent in the same time.
Crypto lovers would be drawn to them by their surge in value since last year. The study even reveals that over 60 percent of American investors joined the market since the beginning of the year. This occurred due to the Bitcoin rise that stopped in May when it reached its all-time high.
Crypto investment increased in 2021
Among the events that have happened in 2021 is the increase in crypto investment. By April, Bitcoin reached its highest value capitalizing on $63000, and other crypto took off. The token is trading over $32000 after 50 percent of its value was liquidated.
Coinbase also went public in April, and Elon Musk, Tesla CEO, showed his support for crypto. All this news brought a wave of crypto investment, especially for Bitcoin, despite their loss of value.
However, issues regarding crypto volatility have brought regulations from China and the UK. Despite everything, crypto has earned a position in the virtual market, and is today a widely known entity.
Due to volatility issues, entrepreneurs have crypto as “speculative currencies.” Even financial managers recommend people invest in crypto with money they don’t use for daily expenses.
Cryptocurrencies and their monetary future
For many experts, crypto presents more than a speculative currency; it is a permanent financing option. Crypto investment is taken with priority, and that is why many companies have joined the market. According to researchers, the crypto market may bring many financing opportunities in the short future.
Just eleven percent of people who do not invest in crypto showed their attraction for the near future. However, they may not have invested in the token due to the downtrend that it handles today. But according to some crypto fans, it is time to invest before Bitcoin reaches a new all-time high.
Crypto investment also shows that younger users trust new financial technology. According to the research, people between 18 to 39 years old use cryptocurrencies, while people between 30 and 50 years old use the shares.
The survey also indicates that 44 percent of women have used cryptocurrencies so far this year. However, only 40 percent of college students use crypto compared to 60 percent of equity investors. The research was conducted in the University situated in Chicago with more than 1000 people surveyed.
