Crypto investments are on the rise in America.
A latest survey conducted by Pew Research has revealed that at least 16% of Americans have invested in some form of cryptocurrency, CoinTelegraph reports. And most of them have been younger men.
Other interesting data points of the survey state that the number jumps to as high as 43% if you talk about young American males aged 18 to 29 years old.
Lastly, African-American, Asian, and Hispanic individuals have also shown a bigger tendency to invest in crypto compared to Caucasians.
Pew Research surveyed a total of 10,371 adult individuals to compile their data. All of the participants were selected from Pew's American Trends panel, then recruited by random based on data such as addresses, ethnicity, and political beliefs, to name a few.
This survey comes years after Pew also asked people about Bitcoin--not necessarily all crypto in general) back in 2015. The results were so different compared to now, however.
In that survey, a tiny 1% of participants claimed to have invested in Bitcoin, and less than half of them have heard about it.
Digital Currency Overtaking Tradition
16% doesn't seem much, but that number is proof that crypto adoption in the US has grown in just over a year. And it's also revealing that people are beginning to invest more in digital currency compared to other real-world assets. One good example is gold.
Back in January 2020, Hackernoon reported that around 14% of Americans admitted to investing in cryptocurrency. Only 12% claimed to have invested in gold.
CNBC also reported that several investors have put more money into crypto/crypto mining compared to the stock market, which experts consider unprecedented.
In 2021 alone, 25% of the money investors regularly put away has gone into cryptocurrency. This is an insanely massive jump from a tiny 5% last year.
Crypto Taking The World By Storm
For the past two years, the crypto mining/investment craze has only grown. Consider it as some sort of "Digital Gold Rush" where if you strike paydirt, you can be a very rich individual.
Bitcoin, the world's preeminent digital currency, is still the way to go if you want to ensure sky-high profits. Its value has skyrocketed in recent years, and it's well on its way to clearing $70,000 later this year after peaking at roughly $68,000, reports Yahoo.
Second-placer Ether (ETH) doesn't come close to Bitcoin's valuation, but it's still got crypto enthusiasts investing a good amount of money on it. As of this writing, the current price of ETH hovers at around $4600 per Ether, and it can be mined by mainstream-accessible hardware.
Furthermore, it has also been deemed possible to invest in cryptocurrency without actually buying crypto in the first place. This is possible via buying stocks in a company that owns stakes in digital currencies, such as Tesla.
Just watch out for scams.
This article is owned by Tech Times
Written by RJ Pierce
