Wells Fargo and Gallup have released the results of a new poll for the second-quarter of 2018 which reveals that established U.S. investors are developing an interest in Bitcoin, but are holding off on investing.
The Gallup write-up of the survey results suggests that Bitcoin has “made little headway” with U.S. investors. Though it may be that recent market uncertainty has created a lack of confidence for potential buyers.
The poll is the Wells Fargo/Gallup Investor and Retirement Optimism Index survey and was conducted online in May 2018, by Gallup. It includes U.S. investors with $10,000 and upwards invested in stocks, bonds, or mutual funds.
2 Percent Own Bitcoin
Out of 96 percent of U.S. investors who have heard of Bitcoin, 72 percent indicated no interest in the cryptocurrency at all. 26 percent are “intrigued by bitcoin but won’t be buying it anytime soon.” 2 percent currently own Bitcoin, and less than 0.5 percent will “probably buy Bitcoin in the near future.”
It could actually be a positive sign that there is so much interest from a survey group consisting of conventional stock, bond, and fund investors, even if they are not ready to take the leap and invest in cryptocurrencies just yet.
Most cryptocurrency proponents probably wouldn’t take the 2 percent who have invested as a representative figure for the entire U.S. population, given the fact that many of the millennial generation may be choosing to invest in cryptocurrencies instead of stocks, bonds, or mutual funds, and are therefore not included in the survey.
Comparing Survey Results
A survey carried out earlier this year by Finder found that out of a sample of 2000 Americans, nearly 8 percent had invested in cryptocurrency, with a further near-8 percent planning to make a purchase in the near future. Only 40 percent of this poll said they had no interest at all. 5 percent of those polled owned an average of $3,453 worth of Bitcoin.
The Finder survey showed the generational gap across cryptocurrency ownership. Over 17 percent of millennials had bought cryptocurrencies, compared to only 8 percent of generation x and 2 percent of baby boomers.
Baby boomers were also more certain they had no interest in digital currencies, coming in at 45 percent. Whereas only 37 percent of millennials were not interested. Interestingly, 45 percent of milliennials cited that cryptocurrency was too complicated or too difficult to use, while only 37 percent of baby boomers found cryptocurrency too complicated or too difficult to use.
One thing that both surveys agree on is that there is some interest and investment in cryptocurrencies from the general American public.
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