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Latest Survey Findings Reveal Many Americans Won’t Invest In Cryptocurrency

A survey conducted by an analytics firm Harris Insights & Analytics and the cryptocurrency app Gem in June this year revealed some unexpected findings in America. A whopping 41 percent of the respondents said that they were not motivated to invest in digital currencies.

The poll interviewed more than 2,000 adult Americans and revealed that just about 8 percent of Americans make investments in cryptocurrencies such as Litecoin, Ethereum, and Bitcoin. On the other hand, a Gallop poll conducted in 2016 had shared that about 52 percent of Americans dabbled in stock.

The survey results could be extremely intimidating to the supporters of Bitcoin who are looking forward to boosting the popularity of the asset. The survey definitely comes at a crucial time since the prices of several digital currencies including Bitcoin have plunged from a high value of 20,000 USD in December last year.

As on Wednesday, August 8, a single Bitcoin’s price stood at around just 6,300 USD. While 2017 saw mammoth excitement and euphoria surrounding the cryptocurrency space, the crypto community appears to be concerned now about ways of regulating Bitcoin and other digital currencies.

However, the regulators seem to be looking carefully at the numerous digital currencies to ascertain which cryptocurrency should be under more stringent securities law. On the other hand, a majority of the crypto sphere appears to be in an absolute state of uncertainty now.

Young Americans Seem More Interested In Cryptocurrency

There is another interesting finding from this cryptocurrency research. Americans who are earning over 100,000 USD every year have a less possibility of investing in digital currencies as opposed to American residents with lower earnings.

Micah Winkelspecht, the CEO and founder of Gem, had another tidbit to share according to Fortune. They found that younger adult Americans with less earning are showing more willingness to invest in the cryptocurrency assets. This survey finding has made him guess that crypto belongs to the digital age.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Pala Sen is an avid follower of fintech, travel and health updates, current affairs and entertainment news from all across the world and writing is a passion for her. She had been previously associated with the corporate world for several years and holds a degree in MBA and a postgraduate software diploma called GNIIT from NIIT.

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