According to a new study by Grayscale Investments, investor interest in crypto assets in 2020 increased compared to last year amid the coronavirus pandemic.
Digital asset management company Grayscale Investments has published research showing that US investors are more interested in investing in BTC this year than last year, partly due to the coronavirus pandemic.
The survey involved 1,000 American investors aged 25 to 65 years, whose family income exceeds $50,000. According to the results of the study, the portrait of the average bitcoin investor looks like this: this is a young man with a higher education, working for hire. The report notes:
“Investors interested in bitcoin are more likely to actively seek out new investment opportunities, choose an “aggressive” level of risk, and open brokerage accounts with several companies at once.”
Grayscale conducted a similar study last year. This year, 62% of respondents were “familiar” with BTC, compared to 53% in 2019. In addition, in 2020, 55% of respondents showed interest in BTC, compared to 36% last year. Of the respondents who invested in bitcoin, 63% said that the coronavirus pandemic influenced their decision to invest, and 39% said that the pandemic made BTC more attractive.
“Interest in bitcoin seems to be growing as market participants look for investments that can serve as a safe haven,” said analysts at Grayscale.
The survey found that investors aged 35 to 44, who “have already been through three recessions and have seen traditional defensive instruments such as real estate, stocks and bonds lose their appeal as a hedge against market downturns,” believe that bitcoin can become a safe haven for investment. However, according to the study, the younger generation can bring the greatest benefit to the cryptocurrency economy.
“The fact that the majority of current and potential BTC investors have not even reached their earnings peak yet, which, combined with the $68 trillion wealth redistribution that is expected to occur over the next 25 years, opens up huge opportunities for those who believe in the long – term growth potential of BTC,” the report says.
Last week, the total dollar value of crypto assets managed by Grayscale trusts reached $6.5 billion for the first time. Of these, $5.4 billion is concentrated in the Grayscale Bitcoin Trust (GBTC). After that, the company invested another $300 million in cryptocurrencies.