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Bitcoin Is Not Attractive Investment for Majority of Americans: Survey

  • Alex Dovbnya
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    Only 6.2 percent of Americans own Bitcoin, according to a new survey

Bitcoin Is Not Attractive Investment for Majority of Americans: Survey
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Contents

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.

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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.

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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.  

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

  •  Denis Sinyavskiy
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    Former US Congressman Ron Paul shares his thoughts on the possible creation of Fed’s own cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency
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Former US Congressman Ron Paul spoke on Fox Business and said that the Fed should not think about creating its own cryptocurrency.

Fed’s Crypto: To Be or Not To Be?

Rumors have been circulating for the past few months about the Fed possibly creating own cryptocurrency. It is expected that a digital coin would become a competitor to its counterparts on the market, and may even replace fiat money. President Patrick Harker, President of the Federal Reserve Bank of Philadelphia, commented on such rumors at a recent conference:

“It is inevitable. I think it is better for us to start getting our hands around it.”

However, there has not been no official follow-up by the Fed towards a crypto exchange. While proponents of this idea believe such innovation is necessary, it is expected that the exchange could stop the current delays involving US bank transfers.

What do the opponents think about the Fed's own cryptocurrency?

The idea of ​​creating the Fed's cryptocurrency has its opponents. This includes Ron Paul, who believes that the Fed is in a better position to stay away from digital coins and allow the private blockchain sector and payment platforms to resolve this discussion in real-time. What the Fed plans to do next is unclear, but the central bank may still enter the game.

Subscribe to News.U.Today on Twitter and get involved in all top daily crypto news, stories and price predictions!

About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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