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1 In 10 Americans Invested In Cryptocurrency In 2020
More than 1 in 10 Americans invested in cryptocurrency over the past year, according to a survey published by the University of Chicago.
The growing popularity of digital currencies such as bitcoin and ethereum was likely spurred by the surge in crypto prices. In fact, most crypto investors (61%) bought in over the past six months, according to NORC.
Cryptocurrency is also gaining popularity among women and investors of color over traditional stocks.
Angela Fontes, a vice president in the Economics, Justice, and Society department at NORC at the University of Chicago, said in a statement that cryptocurrencies are opening up investment opportunities for more diverse investors, which she describes as “a very good thing.”
“It will be important that these investors have access to sound information as they make decisions related to these often more volatile investments,” Fontes said.
Bitcoin hit a high of around $63,000 in mid-April, a 116% jump from about $29,000 at the beginning of 2021, CNBC reported.
The survey found that crypto investors tend to be younger, and more diverse in terms of gender and race and ethnicity, relative to retail stock investors.
The average crypto investor is 38 years old, whereas stock investors are 47