Despite the volatility of Bitcoin, interest and demand for Bitcoin rose significantly in 2021. According to crypto-firm Grayscale Investments LLC, more than half of all current investors have gotten in during the past 12 months.
A survey of 1000 people revealed that about 25% said they had Bitcoin, and 55% of those said they have started investing in Bitcoin this year.
These results highlight the rapid growth of cryptocurrency this year, as investors put money towards the volatile asset class amid the rising popularity of even ancillary items like non-fungible tokens.
After a recent selloff of Bitcoin, Bitcoin is up 70% by 2021, while other tokens like Ether have seen their values rise five times.
According to the survey, “It’s becoming more difficult for investors not to ignore Bitcoin as it continues to rise,”
Nearly 80% of Americans polled said that they would be more inclined to invest in this asset class if there were Bitcoin exchange-traded funds. However, the product regulators have yet not approved the fund.
Grayscale conducted the survey in August and recently filed to transform its $35 million Grayscale Bitcoin Trust (ticker GBTC), into a physically-backed ETF. However, U.S. regulators are still allowing the launch of a futures-based Bitcoin fund.
Grayscale’s survey shows that investors’ preferences regarding how to buy cryptocurrencies are changing. More than three-quarters of respondents said that they prefer to buy Bitcoin through an exchange in 2020. However, close to 60% say they prefer trading via a crypto app such as eToro and Coinbase. Only a third of respondents said that they prefer an exchange right now.
According to the digital-asset manager, investors are increasingly using Bitcoin as a store value, and many are choosing not to sell their investments.
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