The company-operator of the cryptocurrency fund Grayscale conducted a research among American investors to find out their interest in cryptocurrencies.
"Bitcoin 2019 Investor Study" by Grayscale showed that from a pool of 1,100 American investors, more than a third (36%) of respondents consider investing in Bitcoin. If we assume that there are about 63 million investors in the USA, then the interested people represent a potential audience of more than 21 million people.
According to the research, middle-aged and middle-class people living in the suburbs are interested in investing in BTC. Of these investors, 70% are parents with children, 49% earn less than $ 100,000 a year, and 42% consider BTC as a long-term and short-term investment. Compared to the average US investor, these people tend to be more risk averse. At the same time, 51% are interested in investing in BTC - women and 49% - men.
Based on the information gathered during the survey, there are three main reasons why investors are interested in Bitcoin:
You can start small:
83% of survey participants indicated that the benefit from investing in BTC is the ability to invest a small amount, observe the results and choose how to increase their investments in the future.
Bitcoin has significant growth potential:
73% of investors interested in BTC are intrigued by the rapid development of cryptocurrency.
Deficit creates value:
73% of investors compare the value of BTC with gold due to the limited number of Bitcoins available.
The survey also revealed common reasons why 64% of investors who are not interested in BTC do not want to invest in cryptocurrency. Among the main reasons:
Hacking and fraud:
Due to the widely publicized hacks of exchanges and thefts that occur in the industry, 75% of all respondents and 68% of investors interested in BTC are concerned about the risk of digital fraud.
Lack of regulation:
Although some cryptocurrency enthusiasts are against the idea of government regulation, the unregulated market is the second most important cause for concern, which was mentioned by 65% of all respondents and 53% of investors interested in BTC.
Lack of knowledge:
89% of respondents would feel much more confident with investments in BTC if they had a better understanding of how the cryptocurrency industry works.
The need for leadership:
The lack of reliable third parties who understand the work of the cryptocurrency industry is also the reason why many investors do not decide on investing money. According to the survey, investors say that working with a consultant (78%) or with a familiar firm (77%) will increase their desire to invest in BTC.
According to a recent SSRS study, 4% of Americans choose cryptocurrencies for long-term investments. In addition, as shown by the analysis of Messari, 800 times more money is laundered in fiat currencies than in BTC.