Crypto investing firm Grayscale recently released its 2020 Bitcoin Investor Study. The report used data from a survey which digitally polled a sizable number of individuals in the U.S. between June and July. Grayscale found the majority of the surveyed people were keen on buying Bitcoin (BTC).
“In 2020, more than half (55%) of survey respondents expressed interest in Bitcoin investment products,” Grayscale wrote in its October 2020 report. “This marks a significant increase from the 36% of investors who said they were interested in 2019.”
The numbers in Grayscale’s report come from data compiled by research company 8 Acre Perspective. The firm asked 1,000 U.S. persons about their Bitcoin investment interest, or lack thereof. The digitally polled group ranged from age 25 to 64, with minimum household earnings of $50,000 and a minimum of $10,000 of capital at their exposure for investment.
Similarly, Grayscale’s 2019 report used data from 1,100 Americans, polled in March and April 2019 under the same monetary and age parameters.
“Among those who reported investing in Bitcoin, 83% have made investments within the last year, indicating that digital currencies are an increasingly attractive component of modern investment portfolios,” Grayscale’s 2020 report detailed.
The report’s findings show Bitcoin’s popularity has increased in the U.S. “Based on this year’s survey, the market of potential Bitcoin investors is 32 million strong — compared to 21 million investors just one year ago,” the report explained.
“This year, 62% of investors reported that they are ‘familiar’ with Bitcoin, compared to 53% in 2019. In addition, nearly half of those surveyed predicted that digital currencies will be regarded as mainstream by the end of the current decade.”
The report also noted that parties interested in BTC were similar to mainstream market participants, although those keen on Bitcoin purchases run about seven years younger, on average.
Additionally, the report pointed out a correlation between interest in Bitcoin and the COVID-19 pandemic.
Author: Cointelegraph By Benjamin Pirus