Americans are increasingly investing in cryptocurrencies 

Jul 21, 2021

According to data collected by the “real-time insights enablement platform” Civic Science, the number of people investing in crypto in the US has increased from 9% in January to 17% in July since the beginning of the year based on 35,098 responses. The proportion of those who want to invest also rose from 7% to 11%.

So you can see that Americans are increasingly investing in cryptocurrencies despite the decline.

Americans are increasingly investing in cryptocurrencies

Americans are increasingly investing in cryptocurrencies

Civic Science found that up to a quarter of the US population are mainstream financial institutions eager to be introduced into their own cryptocurrency or some other blockchain, which means that despite ever closer government involvement and negative impacts on crypto than Alternative interested are the economic situation.

And the main purpose that makes them do it is investment. Of the 3,168 responses, 26% were long-term growth investments, followed by 24% who said the goal was short-term investments.

More regulated cryptocurrencies could provide more investment opportunities for people over 55 who are currently least likely to invest or want to invest in cryptocurrencies. This section of the population is “very” interested in cryptocurrencies as a short-term growth opportunity and not in their technical advantages such as fast transactions or independence from state influence.

Statistics for the youngest age group (18-24) are mainly interested in long-term growth investments (37%), showing a disinterest in volatility, as they believe in the potential of cryptocurrencies with technical advantages, as well as technological factors.

“So while older investors essentially want crypto to be (and perhaps perceive) crypto as an equity asset class, younger investors want to make small investments.” Assets over time, “the report said.

And of course: “Both needs can be met well with the potential blockchain offering of a large financial institution.”

The general population is also more positive about the idea of ​​cryptocurrencies as a potential solution for currencies without a bank account. Of the 9,665 responses in July, 13% agreed, compared with 10% in April. This “maybe” number also rose by 5 percent to 30%, while “no” fell from 66% to 58% over the same period.

The report also shows that when analyzing the data by age and income, analysts found that younger and less affluent people were even more optimistic about the potential of cryptocurrencies than their peers about the structure of the financial services industry.

The final conclusion of the report is that cryptocurrencies “certainly have a place among traditional banking and financial institutions, provided they are properly developed and appeal to customers with great potential”.

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Important NOTE: All content on the website is for informational purposes only and does not constitute investment advice. Your money, the choice is yours.

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