Bitcoin has the huge potential to go up: Survey
A recent survey revealed Bitcoin’s huge price growth potential. The survey by pollsters Gallup, commissioned by Wells Fargo highlights how just a few number of people in the U.S. have invested their money on Bitcoin (BTC).
The survey also shows how BTC price has the potential to go up, if it goes mainstream and also attract millions of investors. Almost 2,000 people were surveyed and it was found that only 2 percent of investors currently own bitcoin and less than 1 percent wishes to buy in near future, Forbes reported.
“The price of bitcoin is back on an upswing after crashing earlier this year, causing some to say its bubble is again about to burst and others to argue that its value will only accelerate as more merchants inevitably adopt it,” Gallup wrote.
“For now, most investors are on the sidelines, knowing little to nothing about bitcoin. Few are already invested in it, and even fewer plan to jump in soon,” they added. “Looking to the future, however, many younger investors who currently say they are intrigued may be converted to investors once the currency goes more mainstream.”
According to the survey, just 3% of men, 1% of women, 3% of those within the age of 18 to 49 and 1% of those 50 and above reported owning Bitcoin. It was noted that the ownership was more common among wealthier investors. Survey showed that just 3% of those earning $90,000 or more own bitcoin, compared to less than 1% of the investors with low income.
In participants in the survey were were U.S. adults who had $10,000 or more invested in stocks, mutual funds or bonds within or outside retirement savings account. Meanwhile, in a separate study which was published early this year, it was found that 8%, that is, around 26-million people in the U.S. have bought cryptocurrency.
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