Friday, January 28

1 in 4 investors in the US already owns bitcoin


Bitcoin (BTC) has managed to penetrate American society and this is confirmed by the market analysis firm Grayscale. In a recent report, they point out that more than a quarter of investors already have BTC on their balance sheets.

The document, released Monday, reveals that 26% of 1,000 investors surveyed have bitcoins. This represents a growth of 3 points compared to 2020, when the figure reached 23%.

Back then, the first cryptocurrency was trading below $ 30,000. Now, they explain, “the growth in interest is also consistent with the increase in price.”

Regarding the way in which investors prefer to buy their bitcoins, they highlight that it has evolved in the last year. In 2020, they recall, More than three-quarters of investors preferred to acquire their BTC through exchanges. Now, about two-thirds (59%) of investors expressed their preference to buy through a cryptocurrency broker, as eToro or Coinbase.

Thus, only more than a third (35%) of investors express their preference to buy BTC directly through an exchange house.

Grayscale also highlights that investors are increasingly using fintech applications to gain exposure to cryptocurrencies. “30% of investors chose to buy bitcoin with a digital wallet or money app, like Venmo or CashApp,” they say.

For this reason, they value that the increase in the number of these transactions is, without a doubt, “a key factor for PayPal, one of the largest fintech companies in the market, which has supported bitcoin since last year.”

The graph shows the difference between the ways to invest in bitcoin comparing 2020 and 2021. Source: Grayscale.

Bitcoin as reserve vs. bitcoin as currency

On the other hand, they discussed the perception of bitcoin as an investment versus the perception as a currency. In short, there are two main BTC use cases, according to US investors: reserve of value asset and payment method.

While financial institutions continue to grapple with bitcoin’s role in the global economy, investors have shown a clear preference for BTC as an investment through which they can accumulate long-term returns, rather than a currency to make payments. ”.

Grayscale, blockchain analytics firm.

For the firm, this is nothing more than a “notable change” compared to last year, when BTC seen as a currency was more important than any other intention of use.

According to Grayscale, three times as many investors consider holding bitcoin as a store of value investment, rather than as a currency. Among them, more than a third (37%) perceive BTC as a short-term investment to keep for less than a year and through which they can earn quick money.

But, in contrast, more than half (55%) of investors see bitcoin as a long-term game, That goes hand in hand with your general investment strategies.

More than half of American investors see bitcoin as a long-term game. Source: Grayscale.

“Of the investors surveyed who perceive BTC as a currency, a fifth see it as a medium of exchange to pay for goods and services,” they pointed out, noting that another 14% see BTC as a method for money transfers from peer to peer. pair.

Grayscale details the parameters of the survey, which was conducted online by consulting firm 8 Acre Perspective. People between the ages of 25 and 64 participated with an investment of at least USD 10,000 in assets and at least USD 50,000 in annual family income.



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