According to a new poll, Bitcoin has grown in popularity among younger American investors with respect to knowledge, enthusiasm, and holding over the last three years. According to a survey performed by global analytics and advisory firm Gallup, the proportion of investors in the United States owning BTC has increased to 6% in June 2021, from 2% three years back.
Adults with $10,000 or higher investment in stocks, bonds, or mutual funds are defined as “investors” in the study. It also stated that Bitcoin holdings among investors less than the age of 50 has over tripled in the last three years, rising to 13% from 3% in 2018.
Understandably, holdings among the over 50s was significantly lower, at a mere 3%, but this has grown thrice from just 1% in 2018. The analysts pointed out that Bitcoin’s holding is quite low in comparison to more conventional assets.
According to the study, 84% of investors revealed that they had parked their surplus funds in stock index funds or mutual funds, while 67% stated that they held individual stocks and 50% said they had bonds. “At 6%, Bitcoin investment is more similar to gold holdings, which is reported by 11% of investors.”
The poll’s findings are based on a Gallup Investor Optimism Index survey of 1,037 investors in the United States aged 18 and above, carried out between June 22 and 29, 2021. The report’s dataset was weighted to be truly representative of the grownup population in the United States, with the largest probability of sampling error to be 5%.
Other studies show that the vulnerability connected with Bitcoin has decreased over the last three years. Almost all investors polled believed that BTC was a hazardous investment, although the number who said it was “extremely risky” has dropped from 75% to 60%. The majority of the leftover 35% now believe it to be “slightly risky,” with only 5% believing it to be risk-free.
Massive investments in Bitcoin by popular firms like Tesla, Square, and Morgan Stanley, according to Gallup, may be garnering it greater popular legitimacy. Over 80% of polled hedge fund managers and money managers who have already invested in cryptos expect to grow their holdings, according to a comparable study conducted in May and June among fund managers.
