Grayscale says interest in Bitcoin among investors is increasing. And he says the coronavirus pandemic has played a key role
Grayscale, the world’s largest cryptoactive manager, published this Tuesday (27) a survey showing that US investors are more interested in bitcoin than last year, partly stimulated by the coronavirus pandemic.
The research, which summarizes the opinions of 1,000 American investors aged between 25 and 65 years, showed that the average investor in bitcoin has higher education, is male and is employed, in other words, younger. No surprise there (said that, the research counted only those with family income above US$ 50,000 per year).
In addition, “investors interested in bitcoin are also more likely to actively seek new investment opportunities, describe their risk tolerance as “aggressive,” maintain investment accounts in various companies and eagerly consume financial news,” concluded Grayscale.
Grayscale conducted a similar survey last year. This year, 9% more respondents say they are “familiar” with Bitcoin (62% compared to 53%) and interest is increasing; in 2020, 55% of respondents showed interest in Bitcoin, compared to 36% last year.
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Of the respondents who invested in Bitcoin, Grayscale found that 63% of investors in Bitcoin said the coronavirus pandemic impacted their decision to invest. 39% said that the pandemic made bitcoin more attractive.
“Bitcoin seems to be gaining strength as market participants seek investments that can act as safe havens in a portfolio,” Grayscale said.
The research showed that investors aged 35-44 who “have already gone through three recessions and have seen traditional defensive instruments, such as real estate, some stocks and bonds, have lost their appeal as a hedge against market downturns,” saw bitcoin as a protection against the crisis.
But it is the younger generations that can provide the greatest value to the cryptoeconomy, concluded the report. “The fact that most current and potential investors in Bitcoin have not yet reached their first years of gains, along with the $68 trillion wealth transfer scheduled to occur over the next 25 years, reveals a potentially huge opportunity for those who see the possibility of long-term growth in Bitcoin. ”