Young U.S. investors are more interested in bitcoin investments than they were three years ago, according to a poll stemming from the Gallup Investor Optimism Index. This year’s poll surveyed 1,037 participants and findings suggest 6% of American investors own bitcoin.
American Bitcoin Investors Increase by 4% in 3 Years
The American survey and analytics firm Gallup has published new findings from a recent survey the company did on bitcoin investing. The firm’s survey called the Gallup Investor Optimism Index explains there is “more momentum among investors younger than 50.”
In 2018, Gallup’s last report had shown that only 2% of investors own bitcoin but in 2021, that metric has increased to 6%. The American adults that participated said they owned roughly $10K in investments like equities and bonds. Further, Gallup’s researchers say that the number of owners increases for younger generations.
“Ownership is up a more impressive 10 percentage points, to 13%, among investors aged 18 to 49,” Gallup’s latest report notes. “It remains minimal among investors aged 50 and older; just 3% now say they own it, versus 1% three years ago.” Gallup’s report adds:
8% of those with less than $100,000 invested and 6% of those with $100,000 or more invested currently own it. Separately, Gallup finds male investors are over three times as active as female investors in the bitcoin market, with 11% of male investors and 3% of female investors now owners.
Gallup Survey Says Bitcoin Investment ‘Is More Akin to Gold’
Gallup’s study says that bitcoin owners can be compared with mainstream investments like stocks and mutual funds. 84% of those polled invested in either stock or mutual funds while 67% owned individual equities. Researchers note that bitcoin investing is “more akin to gold” which captures 11% of the investor’s portfolio, while 50% of respondents hold bonds.
Adversity toward bitcoin has softened since the last survey as well, as only 58% said they have zero interest in investing. In 2018, 72% of the polled participants said they have no interest in ever buying bitcoin. Adding to the 6% who already own bitcoin, another 2% said they will likely purchase the crypto asset in the future. 35% of those polled, stressed that they are intrigued by bitcoin but “won’t be buying it anytime soon.”
Gallup’s poll concludes by noting that three years ago, a very small percentage of American investors were interested in bitcoin and a very small fraction owned the crypto asset. Since then, researchers attribute the growth to easier purchasing methods and “large investments in bitcoin by well-known companies such as Tesla, Square, and Morgan Stanley.”
“Perhaps, as a result, bitcoin is inching closer to general acceptance among U.S. investors,” Gallup researchers conclude. “Particularly with those under age 50. Not only do 13% of these relatively young investors own it, but their familiarity with it and willingness to buy it have risen to majority levels.”
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