A recent survey conducted by ChainPlay and Storible reveals that 68% of Americans now own cryptocurrency.
The survey, which included 1,428 participants, highlights the growing popularity of cryptocurrencies as a preferred investment choice among Americans of all ages.
Bitcoin over gold and stocks
The survey found that many Americans are reshaping their investment portfolios to include cryptocurrency.
Over half of the respondents (52%) revealed that they sold stocks or gold to buy Bitcoin.
The survey also found out that 20% of US investors are now allocating over 30% of their total investment funds to cryptocurrencies.
Moreover, 51% of these investors are allocating more than 30% of their crypto holdings to meme coins.
Trump’s return raises interest in crypto
As per the survey, the election of former President Donald Trump appears to have encouraged nearly 40% of Americans to invest more in crypto, with 84% of these new investors being first-time buyers.
Notably, 84% of those who increased their investments were first-time buyers.
64% of American crypto owners have recommended crypto investments to their family members.
Bitcoin: an asset for all ages?
The survey highlights that the younger generation has been at the forefront of adopting crypto. Gen Z is leading the charge, with an average entry age of 22.
Millennials follow closely behind, beginning their crypto journeys at an average age of 29. Baby Boomers, on the other hand, tend to enter the market later, with an average entry age of 50.
The survey reveals a high degree of optimism among crypto investors.
A significant majority (60%) expect to double their holdings by 2025, indicating strong confidence in the continued growth of digital currencies.
Furthermore, 77% of American investors plan to increase their crypto holdings in 2025, reinforcing the trend of increasing adoption and investment.
The recent crypto rally
In early November 2024, just before Donald Trump’s election victory, Bitcoin was trading at around $68,300.
However, shortly after his win, the price surged past $100,000, with many analysts attributing this sharp increase to his victory.
The coin went on to hit an all-time of over $108,268.45 on December 18.
The rally wasn’t limited to Bitcoin alone; other cryptocurrencies experienced similar gains, and investments in crypto-related companies also saw a significant rise.
Trump’s vocal support for cryptocurrencies and his choice of crypto-friendly figures to lead key departments in his administration sent a clear signal to the market.
His stance suggested that the U.S. government would not impose heavy regulations on the crypto space, positioning itself instead as a supporter of Bitcoin’s growth.
This approach helped alleviate some of the long-standing concerns around regulatory risks, which had previously kept Bitcoin from gaining mainstream adoption.
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