CNBC Poll - One in 10 people in the U.S. (11%) currently invest in cryptocurrency


On August 23, a poll named “Invest in
You”, published by CNBC and US-based artificial intelligence-powered market
research firm, Momentive found that over 5000 respondents one in 10 people- 11%
to be precise- the people of the U.S currently investing in cryptocurrency.
In the poll 5,530 respondents stated
various reasons for why they decide to invest in the crypto market. According to
the survey, the number of cryptocurrency investors in the U.S doubled in the
last year- “Exactly half of the cryptocurrency investors started investing within
the last year.”
The poll takes a different angle in the
case of gender, irrespective of all racial or ethnic groups. It tells17% of men
invest more in cryptocurrency than women, which is 6%. To be divided the poll
by different age groups, 15% of young investors (18-34), 11% of middle-aged
investors (35-64) and 4% of older investors (65+) invest in cryptocurrency.
Generally, only 3% rest of the investors start to invest as they are encouraged
by the growth in cryptocurrency over the last year.
60% of those who invest in
cryptocurrency say they do so because of the possibility long term growth. 44%
of the overall respondents invest because of potential for high growth in a
short period of time, 33% do just of the ease of making the own trades and 26%
bended towards crypto for the excitement of investing.
Most interestingly, not always investors
are influenced by some of the typical narratives for investing in
cryptocurrencies. Less than half of the general public (44%) don’t even aware
of where they expect Bitcoin to be at the end of the financial year. Though 21%
say higher than the current state and 14% say lower than the current market
price.
About half of the U.S (in total 45%)
tend to think that cryptocurrencies are a high-risk investment. To be exact by
the survey, 31% moderate risk, 6% low risk, 9% no risk factor to this high-risk
market.
On the other hand, some of the respondents
are ready to invest in this high-risk market for the short-term investment
opportunity. As the young generation people will invest in crypto to gain the
largest return in just 365 days (21% of 18-34 age group, 13% of 35-64 age group
and 3% of 65+ age group).
According to the new survey, the
investors who are new in the field, more optimistic about cryptocurrency than
those who start investing before 2019. 36% among them hope that the price of
Bitcoin will be higher that of now, in comparison to 20% of other investors.
Among other races in United States, 19%
of Black people, 6% of whites, 13% of Hispanics, 8% of Asians believe
cryptocurrency has no threat. The survey also found the fact that the older
people get (63%), the more likely to believe the high-risk factor in crypto
world.
The Covid-19 pandemic all over the world
has an impact on cryptocurrency investment. CNBC poll found that only 5% had
invested some of their government stimulus payments in cryptocurrencies over
last year.
Instead of the controversies about
investment advice on social media platforms, 3% of age group 35-64 said social
media influenced them to invest.

Joyashree Dey
CBW - External Analyst
INDIA