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Most of US Investors Show Interest in Bitcoin Investment, Covid-19 Catalyst to Changing Preferences

More than half of U.S. investors (55%) have an interest in investing in bitcoin, a rate of 19 percentage points higher than last year’s, according to a new survey report. This translates into a possible U.S. market of nearly 32 million Bitcoin investor households. According to the results of the research, this rise of reflects the effect of the Covid-19 pandemic on perceptions and viewpoints around the digital currency.

The research is jointly carried out by Grayscale Investment and 8 Acre Outlook and details the extent of the outbreak of the pandemic on the decision making of investors. The study reports, “83% of those who reported investing in Bitcoin made investments during the previous year,” to explain this.

However, when the data are broken down further, it is seen that 38 per cent of people who purchased Bitcoin “over the past four month” – the survey carried out between June 26 and July 12 – coincided with the start of the lock-down and the implementation of social distancing regulations.

The number is lower for those invested in Bitcoin five or six months ago, perhaps because Covid-19 was still under control. For those invested from 7 to 12 months earlier, this percentage is even lower (19%).

The analysis thus states that bitcoin is no longer considered “a niche asset class that appeals to a narrow pool of investors.” Indeed, bitcoin is gravitating to become a mainstream investment asset, as the report explains:

“Based on this year’s survey, the market of potential bitcoin investors is 32 million strong—compared to 21 million investors just one year ago. This year, 62% of investors reported that they are ‘familiar’ with Bitcoin, compared to 53% in 2019.”

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