A recent study by the world’s largest digital currency asset manager, Grayscale Investments, has claimed that over 25% of American households surveyed own Bitcoin either directly by purchasing the token or indirectly in a crypto ETF.
The firm released its 2021 Bitcoin Investor Study, an annual report on investor attitudes and perspectives about Bitcoin.
The study was conducted by Grayscale in collaboration with financial market research firm, 8 Acre Perspective.
It demonstrates continued growth in interest, awareness, and adoption of Bitcoin and the digital currency ecosystem at large.
The financial firm carried out a survey with 1000 respondents.
All the respondents were within the age of 25 and 64, had at least $10,000 in investable household assets (excluding workplace retirement plans or real estate) and at least $50,000 in household income.
Amongst those who alluded to owning Bitcoin, 46% and 44% also jointly held Ethereum (ETH) and Dogecoin (DOGE) in their accounts, respectively.
Most of the respondents invest in cryptocurrencies through a trading app or directly through a cryptocurrency exchange.
A negligible number of them invest in Bitcoin through traditional self-brokerage or industry professionals.
As shown in the research, the number of respondents using a financial advisor to learn about investing in cryptocurrencies fell from 30% in 2020 to just 11% in 2021.
“The results of the study show that more investors see long-term value in adding Bitcoin and digital currencies to their investment portfolios,” said Michael Sonnenshein, CEO of Grayscale Investments. “While it is encouraging to see attitudes towards crypto continue to evolve, it’s still early days for this industry.
It’s incumbent on all of us to remain focused on educating the investing public, so investors — across generations and demographics — can access this once in a generation opportunity.”
The study also revealed that for the first time, investors are three times as likely to consider Bitcoin as a store-of-value investment, rather than as a currency – with more than half (55%) of respondents noting that they consider Bitcoin as a long-term investment opportunity for a diversified investment strategy. Seventy-seven percent said they had purchased Bitcoin within the last 12 months. Ninety-one percent of respondents are currently in the green regarding their investment.
According to the study, there has been an increase in Bitcoin adoption across all age groups, genders and levels of education.
The respondents highlighted that being able to invest very low amounts, accessibility at any time and a large sector growth potential made it easy for them to adopt cryptocurrencies.
This trend isn’t native to just the US. All over the world, more investors are buying into cryptocurrencies, NFTs and other related assets than never before.
The widespread adoption is probably due to the crypto rally from late 2020 to mid 2021. Also, more celebrities, thought leaders and influencers have given a vote of confidence to the new technologies and are now adopters themselves.
The firm released its 2021 Bitcoin Investor Study, an annual report on investor attitudes and perspectives about Bitcoin.
The study was conducted by Grayscale in collaboration with financial market research firm, 8 Acre Perspective.
It demonstrates continued growth in interest, awareness, and adoption of Bitcoin and the digital currency ecosystem at large.
The financial firm carried out a survey with 1000 respondents.
All the respondents were between the age of 25 and 64, and had at least $10,000 in investable household assets (excluding workplace retirement plans or real estate) and at least $50,000 in household income.
Amongst those who alluded to owning Bitcoin, 46% and 44% also jointly held Ethereum (ETH) and Dogecoin (DOGE) in their accounts, respectively.
Most of the respondents invest in cryptocurrencies through a trading app or directly through a cryptocurrency exchange.
A negligible number of them invest in Bitcoin through traditional self-brokerage or industry professionals.
As shown in the research, the number of respondents using a financial advisor to learn about investing in cryptocurrencies fell from 30% in 2020 to just 11% in 2021.
“The results of the study show that more investors see long-term value in adding Bitcoin and digital currencies to their investment portfolios,” said Michael Sonnenshein, CEO of Grayscale Investments. “While it is encouraging to see attitudes towards crypto continue to evolve, it’s still early days for this industry.
It’s incumbent on all of us to remain focused on educating the investing public, so investors — across generations and demographics — can access this once-in-a-generation opportunity.”
The study also revealed that for the first time, investors are three times as likely to consider Bitcoin as a store-of-value investment, rather than as a currency – with more than half (55%) of respondents noting that they consider Bitcoin as a long-term investment opportunity for a diversified investment strategy. Seventy-seven percent said they had purchased Bitcoin within the last 12 months. Ninety-one percent of respondents are currently in the green regarding their investment.
According to the study, there has been an increase in Bitcoin adoption across all age groups, genders and levels of education.
The respondents highlighted that being able to invest very low amounts, accessibility at any time and a large sector growth potential made it easy for them to adopt cryptocurrencies.
This trend isn’t native to just the US. All over the world, more investors are buying into cryptocurrencies, NFTs and other related assets than ever before.
The widespread adoption is probably due to the crypto rally from late 2020 to mid-2021. Also, more celebrities, thought leaders and influencers have given a vote of confidence to the new technologies and are now adopters themselves.
