Despite the widespread belief that only a niche group of people are attracted to bitcoin, a new survey released by Grayscale found data pointing to the contrary.
Grayscale’s “Bitcoin 2019 Investor Survey” revealed that, in a pool of 1,100 U.S. investors, more than a third (36 percent) of U.S. investors would consider an investment in bitcoin. Assuming there are 63 million investors in the U.S., bitcoin-curious investors represent a potential market of over 21 million investors.
Who Is Interested in Bitcoin?
According to the data from the survey, the profile of bitcoin-interested investors is mainly those that are middle-aged, middle-class and from the suburbs. Of these bitcoin-interested investors, 70 percent are parents with children, 49 percent make less than $100,000, and 42 percent view bitcoin as both a long- and short-term investment.
Compared to the average U.S. investor, these investors tend to be slightly more risk-tolerant. Beyond that, profiles between the two groups are largely similar, including demographics based on
- Age: slightly younger (42) than the average U.S. investor (45).
- Political affiliation: slightly more Republican than Democratic
- Income: similar income distribution, with earnings on the higher end ($100,000+)
- Gender; both women (51 percent) and men (49 percent) are overall investors, and of those, 43 percent of women and 57 percent of men are interested in bitcoin
What Is the Appeal of Bitcoin?
Based on the information collected in the survey, there are three main reasons as to why investors are interested in bitcoin:
- Investors can start small: 83 percent of survey takers indicated that the benefit of investing in bitcoin was the ability to invest a small amount, observe the performance and choose to build upon their
