New research from the digital investment company Greyscale shows some extremely positive news for the future of Bitcoin and cryptocurrency in general. Their 2019 investor survey has been completed, and their report has been published. The results are in, and thankfully, people are bullish on Bitcoin. The report shows the results from 1100 general US investors, and goes into detail on who’s interested, why they’re motivated (or not), and gives great depth on the wider market’s thoughts and reasoning on cryptocurrency investing.
More than a third of investors interested in bitcoin
The first and most important statistic in their report is that more than a third of US investors are interested in Bitcoin. This is in opposition to the popular belief that Bitcoin investing is for a small niche audience of dedicated investors. 36% of the investors targeted reported that they were interested in or would consider investing in Bitcoin. This amounts to more than 21 million investors (synchronistically, the exact amount of Bitcoins that will ever be in existence).
The average investor
These people are the average US investor. The profiles of those who are interested in Bitcoin is shockingly similar to the profiles of the general investor. This extends to political views, income, gender and careers. This is important to note because it shows that there aren’t any special qualities that an investor needs to have to invest in Bitcoin. One of the statistics – that those interested in Bitcoin are slightly more risk-loving, is actually a positive for the industry. It shows that once cryptocurrency grows and stabilises, these people who are currently not interested in Bitcoin because of its volatility, will likely suddenly become attracted to cryptocurrency because it’s settled down into a less risky investment.
83% are motivated because they could invest small amounts as a test
There are quite a few aspects of Bitcoin investing that are driving these results and appealing to investors – the main take home point here is that people are motivated by the fact that they can invest small amounts in cryptocurrency, which gives people a greater amount of freedom to experiment and test out their methods of investing. This, in their eyes, mitigates risk and allows them to enter the industry with little to lose.
79% are interested in Bitcoin’s growth potential
79% of investors surveys reported that they’re interested in Bitcoin’s future growth potential. Of course this is one of the main reasons why anyone invests in anything, but the fact that this is now being recognised by investors in the wider world shows that even though the media hype is over for cryptocurrency, the true potential has stuck in people’s minds.
75% liked the idea that bitcoin is scarce and cannot be printed and inflated like fiat money
One of the other main statistics showcased in the report is that the average investor is very interested in the fact that Bitcoin is scarce. It has value because there can never be more than 21 million coins – and this protects the investor from inflation and printing of more fiat currencies, as we see in fiat currency throughout the world.
Crime is the number one fear
In terms of what stops people investing in Bitcoin – one of the key things mentioned in the report is crime. 75% of all investors said they were concerned about digital crime, which is unsurprising given the industry’s history of hacks and scams.
The wider world
It’s important to note that this is a survey done only in the US. Now, if we suppose that 21 million investors are interested in Bitcoin, then when we scale that up to the entire world – we get a figure 10-20x larger than this. Could we even suppose that there’s 200-400 million people interested in Bitcoin in the wider world? Whatever the true figure – this report shows that even after a bear trend, intense crime, and short-term media hype, there’s still a huge amount of people interested in Bitcoin in the US – and most likely the world. Over time, it’s likely that a lot of these investors will enter the markets, if least just to see what it’s all about. There’s no smoke without fire, and there’s usually no interest without action.