Figures from a recent poll indicate that bitcoin and cryptocurrency are still viewed with suspicion by most U.S. investors, with only 2 percent of them holding bitcoin and another 75 percent of them describing bitcoin as “very risky.” Conducted by Gallup and Wells Fargo, the poll surveyed nearly 2,000 American investors with holdings exceeding $10,000.
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Low Interest, Lower Adoption
The second-quarter Wells Fargo/Gallup Investor and Retirement Optimism Index survey presented a snapshot of U.S. adults with $10,000 or more invested in stocks, bonds or mutual funds, either within or outside a retirement savings account. Its results indicated that despite the excitement over the popularity of bitcoin trading, especially at a time when institutional investment is expected to make an entrance, the asset class remains a niche investment area, unknown or untrusted by the majority of market participants.
According to the poll, more than 70 percent of respondents have no interest in buying bitcoin. Just over a quarter of investors indicated a general interest in the asset, but they have no plan to invest in it anytime soon. Most surprisingly, only 2 percent of the respondents have bitcoin holdings.
A further statistical and demographic breakdown of results shows a higher level of bitcoin awareness and acceptance among younger respondents and men. The data shows that relatively younger investors with less than $100,000 in holdings are more likely to be familiar with bitcoin and cryptocurrencies. Women and seniors were overwhelmingly less likely to express an interest in bitcoin investment or an awareness of the asset category.
One takeaway from the data is that bitcoin remains a topic of interest for young and male investors, who are generally not as financially well-heeled as their older counterparts. Of the 1,921 survey respondents, only 3 percent of men and 1 percent of
