Nearly half of US consumers invest in crypto: Bakkt survey
Bakkt, a digital asset-related subsidiary of Intercontinental Exchange (ICE), published a survey in September that revealed data on the latest investment trends and awareness associated with cryptocurrencies.
The highlight of the survey was that over 48% of U.S. consumers have reportedly invested in cryptocurrencies in the first half of 2021. Data also indicated that younger respondents showed more interest in crypto assets than the older audience.
It was found that 69% of US residents who purchased cryptocurrencies were under 44 years old.
32% of respondents who did not invest in crypto assets said they were interested in buying them within the next 6 months
The survey was conducted by Bakkt in July 2021, targeting more than 2,000 US respondents. It was based on the Census Bureau’s American Community Survey such that factors such as age, race, sex, education, and geography did not affect the findings of the study.
Overall, 20% of the respondents purchased crypto worth $100 whereas 30% of the group aged 30 to 44 have more than $500 worth of crypto in their portfolio. Only 5% of the respondents held $1,000 or more in their crypto investments.
The study also noted that 58% of those who have already purchased cryptocurrencies view it as a long-term investment, while 43% look for short-term gains.
In addition, 35% of the respondents answered that they did not know anything about cryptocurrency. Only 6% said they knew a lot. In terms of gender, women revealed a higher tendency to not know about cryptocurrencies than men (Male: 24%, Female: 45%).
Bakkt CEO Gavin Michael noted in an official statement:
“The results of the survey demonstrate that Gen Z and millennials are adopting crypto en masse and for alternative forms of payment, but the biggest roadblock standing in their way has been lack of understanding on how to get started and concerns with market volatility.”
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OhNoCryptocurrency via https://www.ohnocrypto.com/ @Gauri Bhatia, @Khareem Sudlow