When it comes to the average Bitcoin enthusiast, the picture looks pretty much like you’d expect: young, male—and increasingly bold.
According to a new Gallup study that surveyed 1,000 adult Americans’ investment habits, 10% of investors polled between 18 and 49 hold (or had held) Bitcoin as of June 2021. In contrast, investors older than 50 remain cautious, with only 3% dabbling in the crypto coin, albeit up from 1% three years ago.
Gallup also found a gender split when it came to uptake, with male investors nearly four times as likely as women investors to hold Bitcoin: 11% of male respondents reporting the crypto in their portfolio, versus 3% of women.
The survey only looked at adults in a household with total investments of $10,000 or more.
However, overall, stocks still remain far more popular than crypto. Eighty-four percent of those surveyed report having money invested in stock index funds or mutual funds, and 67% say they own individual stocks. By comparison, Bitcoin ownership has similar rates to investment in gold, which 11% of investors say they own.
But it’s clear that investors are becoming less Bitcoin averse. Between 2018 and 2021, the number of people who say they have no interest in ever buying bitcoin has dropped from 72% down to 58%. The price gains likely helped: over that period the cryptocurrency rose from $9,000 to a high of $65,000 in April 2021.
However, if that enthusiasm merely tracked Bitcoin’s rise, the tide may be turning. The coin is currently at $32,400 and is underperforming the S&P 500 since the start of the year. Meanwhile, warnings abound that prices could drop still lower.
Meanwhile, while nearly all investors polled by Gallup perceive Bitcoin to be a risky investment to some degree, the percentage calling it “very risky” was 60% in 2021, down from 75% in 2018. About a third—35%—still say they consider it somewhat risky.
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