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Over half of US investors prefer Bitcoin, according to study

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  • A survey shows that 55 percent of US investors are intrigued by Bitcoin.
  • Those who hold a graduate degree are predicted to invest in the cryptocurrency.
  • The most considerable portion of Bitcoin US investors is in the 25-34 age group.

A survey by the world’s leading digital asset manager Grayscale Investments indicates that US investors are increasingly interested in the famous cryptocurrency by market capitalization – Bitcoin. The study shows that 55 percent of US investors in 2020 are intrigued by Bitcoin, a 19 percent growth from last year.

The overall number of Bitcoin traders climbed to 32 million, a significant rise from 21 million last year. Nearly half of participants disclosed that they expect digital currencies to reach mainstream status by the close of the decade.

Demographics of US investors

The study suggests that those who hold a graduate degree are predicted to invest and that there are twice as many male investors than females. However, the females that are interested in Bitcoin reported that they would like proof of a strong track record.

The largest portion of Bitcoin investors was between ages 25-34, an age group that has not reached its paramount earning years. The leading cryptocurrency is not desired amongst those aged 55-64, as 30 percent said they would think about investing in the online coin. Older respondents regarded Bitcoin too dangerous to pursue.

The coronavirus pandemic was identified as the driving force behind the soaring increase, inducing 63 percent of participants into trading.

Bitcoin’s legal standing in the US varies because each state imposes its laws. Some US businesses have ruled several facets of the Bitcoin ecosystem, with 32 provinces instituting the cryptocurrency by 2019.

The two organisations that are mainly concerned with Bitcoin at a confederate level are the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CTFC). While the SEC has claimed that Bitcoin is not a protection, in 2015, CTFC regarded Bitcoin a commodity like gold, and as a result, must comply with its laws.

Martha Gardiner

Martha Gardiner

Martha is a freelance writer who has experience writing about financial topics, health, lifestyle, fashion and beauty. She also has experience in course writing and CV writing. Martha loves to read and is very fond of animals.

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