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Digital asset management firm Grayscale Investments released its latest report on October 27, covering investor behaviour related to Bitcoin (BTC) investments.
Titled ‘Bitcoin Investor Study’, the report analyzed the degree of mainstream adoption the market has experienced in 2020, as well as the impact of the COVID-19 pandemic on Bitcoin investments
Among the highlights of the surveys conducted is that over half of US investors are now interested in Bitcoin, at 55% in 2020 compared to 36% in 2019; 83% of investors had invested in the past year
Nearly two-thirds of respondents (63%) stated that the pandemic was a driving factor in their investment decisions
Unsurprisingly, younger investors were more interested in Bitcoin, with an average age of 42; the average age of uninterested investors was 49; this is in line with JPMorgan Chase’s report that millennials would be driving adoption
65% of investors also displayed interest because Bitcoin could be bought in small, fractional amounts, as opposed to stocks and bonds; this, coupled with 59% incentivized by its potential growth, has spurred most respondents into considering the asset
There are now 32 million Bitcoin investors in the US, up from 21 million in 2019
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