Based on the findings of Wells Fargo/Gallup recent survey, only 2% of U.S. investors have Bitcoin while 26% are intrigued to get it.
The poll was carried out from May 7 to 14 this year among American investors that own over $10,000 in stocks, bonds or mutual funds.
As the results suggested, the majority of U.S. investors who have known Bitcoin are not interested to invest in the most popular cryptocurrency. About 72% noted that they are not likely to purchase a Bitcoin.
Analyzing the poll data, although 96% of investors have knowledge about Bitcoin, only three in 10 investors (29%) cite that they know something about digital currencies while 67% note that despite hearing about them, they still lack detailed info about them.
Initially, Bitcoin is intended to be used as payment or “electronic cash.” However, its high volatility has caused it to become popular as a high-risk/high-reward investment compared to being an online currency.
Currently, there is an increasing acceptance of Bitcoin for online payments. The survey showed that 75% among respondents see Bitcoin is a “very risky” investment while the 23% noted it was “somewhat risky.”
Regarding gender and age, young men are more aware of bitcoin and other digital currencies.
The findings cited in relation to age differences, younger investors who own less than $100,000 in investments are more familiar with the innovation compared to those with higher asset levels.
A Finder.com study on Americans and cryptocurrencies sometime in February noted that 8% or about 26 million Americans have bought cryptocurrency.
Based on a recent report about the top 10 crypto projects that generated a minimum of $1 million in 2017, on the average each project had a return on investment of about over 136,000%.