A recent survey has revealed that Bitcoin has gained traction with younger U.S. investors regarding awareness, interest, and ownership by a significant margin in the last three years. A survey conducted by global analytics and advice firm Gallup revealed that the number of investors in the U.S. holding bitcoin has jumped from 2% in 2018 to 6% as of June 2021.
Bitcoin interest has increased across all age groups.
The research defines “investors” as adults with $10,000 or more invested in stocks, bonds, or mutual funds. The study further revealed that Bitcoin ownership among investors surveyed aged under 50 has more than trebled over the past three years to 13% from 3% in 2018. The ownership was much lower at just 3% for the over 50s group of investors, though this increased three-fold from 1% in 2018. The researchers also noted that Bitcoin’s relatively modest ownership among adults in the U.S. could be contrasted with more mainstream investments. 84% of the investors polled reported having invested in stock index funds or mutual funds, while 67% only owned individual stocks, and 50% have bonds.
The risk perception associated with Bitcoin has declined.
The study also found that the risk perception associated with Bitcoin has declined over the past three years. Nearly all investors surveyed perceived the leading cryptocurrency to be a risky investment, however, the percentage calling it “very risky” has declined from 75% to 60%. Most of the remaining 35% now consider it to be “somewhat risky,” while just 5% think it carries no risks. Gallup concluded that major bitcoin investors like Square, Tesla, and Morgan Stanley give it more mainstream credibility.