Bitcoin might be the currency of the future, but very few people own it as of now. According to a recent survey conducted by Cryptoradar, only 6.2 percent of Americans have invested in the very first cryptocurrency.
Not keen on Bitcoin
The paradigm-shifting Sastoshi Nakamoto creation has been around for more than a decade, but it has so far failed to achieve mainstream adoption. An overwhelming majority of all poll responders (64.8 percent) says that they do not own any BTC, and these nocoines aren’t willing to change that anytime soon.
The above-mentioned figure increases by ten percent when only the opinions of baby boomers are included, signifying the generational gap that becomes evident when it comes to embracing crypto. Those who are nearing their retirement days tend to steer clear of such high-risk investments like Bitcoin.
However, millennials with some extra cash on their hands are willing to take the risk for potential rewards.
Despite its enormous volatility, Bitcoin is a very attractive investment for those investors, especially younger investors, who are willing to ride the volatility to potential future gains," stated Terry White, head editor at Crypto Radar.
Afraid of getting burned
Another striking revelation is that the lion’s share of those who do have some BTC (3.5 percent) do not want to purchase it again. Those retailer investors who FOMOed in during the top of the crypto craze in December 2017 might still feel the burn.
As reported by U.Today, around 75 percent of Americans are now familiar with the top cryptocurrency.