Bitcoin interest rising in younger investors: Gallup

New polling shows that bitcoin is gaining popularity among younger investors.

According to Gallup polling results, 66% of adult investors in the United States with at least $10,000 invested in stocks, bonds, or mutual funds currently have bitcoin. This is up from 2% in 2018.

The number of bitcoin-owning young adults aged 18 to 49 is 13%, compared with 3% in 2018. Only 3% of people over 50 have the cryptocurrency, compared to 1% three year ago.

“Bitcoin ownership can be contrasted to the mainstream investments U.S. Investors rely on,” Lydia Saad, Gallup director for social research, wrote. According to Gallup, 84% of investors have money in mutual funds or stock index funds. 67% own individual stocks and 50% have bonds. Bitcoin ownership at 6% is comparable to gold, which 11% investors claim they have.

American investors are more familiar with bitcoin than are female investors and those over 50.

Due to celebrity recognition and its large price bubbles, cryptocurrency has grown in popularity over the last decade. The cryptocurrency really grabbed investors’ attention in December 2017, when it was worth around $20,000 In April, the coin hit a record high of $60,000 The coin’s current value sits at more than $32,000, according to Coindesk.

El Salvador in June became the first country to accept bitcoin as legal tender.

Gallup conducted a survey of 1,037 U.S. investment professionals aged 18 or older between June 22-29. Gallup reports that the maximum margin of sampling error for this survey is +-5 percentage point with a 95% confidence limit.

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