Rapid BTC adaptation: 62% of new investors are now „very familiar“ with Bitcoin
Grayscale Investments, arguably the largest and most influential crypto-fund in the world, has released the results of a survey conducted last month to measure public sentiment, knowledge and acceptance of Bitcoin among new accredited and institutional investors.
According to the company, 62% of all respondents are now „very familiar“ with Bitcoin and either already invested in the pioneering crypto currency or plan to invest shortly.
Millennials and new investors turn Bitcoin Code to Bitcoin
In the „Bitcoin Investor Study“ for October 2020, Grayscale found that over 83% of all respondents had made crypto-investments within the last year, indicating that digital currencies are an increasingly attractive component of modern investment portfolios.
The global pandemic was a major driver for Bitcoin investment in 2020, with 38% of new Bitcoin investors reporting that they invested within the last four months. In addition, almost two thirds of them said that the impact of COVID-19 was a factor in their decision.
The ongoing coronavirus pandemic played a role in the decision of new investors to invest in Bitcoin. Image: Grayscale
Millennials led the rise in demand for crypto currencies, according to Grayscale. While the space was initially seen as a niche asset class that only appealed to a narrow circle of investors, crypto currencies soon gained importance as a mainstream investment opportunity for both retail and institutional investors.
This year’s survey shows that the market of potential Bitcoin investors is 32 million strong, compared to 21 million investors just a year ago.
Familiarity is growing
This year, 62% of investors said they were „familiar“ with Bitcoin, compared to 53% in 2019, and almost half of those surveyed predicted that digital currencies would be considered mainstream by the end of the current decade.
Grayscale on this:
„As equity markets experience continued volatility and the once strong correlations between different asset classes begin to dissolve, Bitcoin seems to be gaining momentum as market participants look for investments that can act as safe havens within a portfolio“.
The report also notes that as the new, so-called „digital generation“ grows up, it is likely that more digital forms of money will be introduced.
Just a little crypto-allocation in a traditional portfolio would have increased returns many times over. Picture: Grayscale
„Current and potential investors in Bitcoin have not even reached their best years of earnings, and the $68 trillion asset transfer that is expected to take place over the next 25 years represents a potentially huge opportunity for those who see the possibility of long-term growth for Bitcoin,“ concluded Grayscale.