CHICAGO–( BUSINESS WIRE )–29. September 2022–
A recent survey by financial app M1 of over 1,000 retail crypto investors shows that the majority plan to hold crypto assets for more than six months. Despite the current “crypto winter, 1” only 21% of respondents plan to sell crypto.
Fifty-five percent of respondents say they plan to hold their crypto investments for the next seven months or longer, with 39% of that group planning to hold for more than 12 months. Only 15% of respondents plan to keep their current investments for less than three months.
Similarly, the survey finds that those who hold crypto view the asset class as part of their long-term investment strategy. 42 percent state that they remain invested in crypto through the crypto winter because they see it as part of their long-term investment strategy. Forty percent state they remain invested because they believe crypto is a viable asset class and expect it to recover.
Still, today’s market environment is changing the way existing crypto investors approach the asset class. 42 percent say they follow crypto prices and charts more closely and more often. 38 percent say they are investing in more crypto assets than they normally would, while 13 percent state that the crypto winter is not changing the way they invest in crypto at all.
“Crypto has been heavily associated with day trading and short-term investing for the past decade. But as we go through yet another crypto winter, we’re uncovering the real reason why investors continue to hold the asset class,” said M1 founder and CEO Brian Barnes. “A majority of the private crypto investors we surveyed are in crypto for the long term. They believe in its viability as a mainstream asset class, they see institutions increasing investment in crypto and blockchain technology, and they see it as having a place in their long-term portfolio. These are the crypto owners of the future – not just the day traders.”
Approaching crypto as a mainstream asset class
The majority of investors surveyed shared that they believe crypto will one day become a mainstream asset class. M1 found that 96% of respondents believe crypto could become a mainstream asset class (like stocks), with only 4% saying it will never reach that status.
The investors surveyed differ on what they believe are the necessary steps for crypto to become a mainstream asset class. According to almost half (49%), it will take the widespread acceptance of crypto as a form of payment. Respondents also say it will require widespread adoption by institutional investors (37%), broad adoption by private investors (35%) and government regulation (33%).
M1 has released this survey following the launch of its digital investment platform, M1 Crypto. Now available to all M1 customers, M1 Crypto allows investors to customize and automate their digital asset investment strategy.
Methodology
This M1 survey was conducted by Big Village Caravan among private crypto investors in the United States. A diverse group of over 1,182 investors were surveyed for the report, shared throughout September 2022. For further details on survey methodology, please contact an M1 media representative.
About the M1
M1 is a technology-first wealth building platform that helps people build assets, spend efficiently and borrow at low rates. With over $5.5 billion in assets under management, M1 brings control and automation to hundreds of thousands of people through investments, digital checking, portfolio lines of credit and a unique credit card. M1 was named 2022 Best for Low Cost and 2022 Best for Sophisticated Investors by Investopedia.
Learn more at www.m1.com.
Disclosures
M1 does not provide investment advice, and this is not an offer or solicitation of an offer, or advice to buy or sell securities, and you are encouraged to consult your personal investment, legal and tax advisors. Past performance does not guarantee future performance.
Investing in cryptocurrency comes with significant risks and may not be suitable for everyone. Based on your specific situation and financial condition, carefully consider whether investing in cryptocurrency is right for you. For relevant disclosures and risks, visit m1.com/crypto-disclosures.
M1 Digital LLC is a completely separate affiliate of M1 Finance LLC, and neither is involved in the execution or custody of cryptocurrencies. Cryptocurrencies are not FDIC or SIPC insured.
1 ‘Crypto winter’ is defined as the period of relatively lower cryptocurrency prices that began in June 2022
See the source version on businesswire.com: https://www.businesswire.com/news/home/20220929005199/en/
CONTACT: Greta Gordon
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SOURCE: M1
Copyright Business Wire 2022.
PUB: 29/09/2022 07:30/DISC: 29/09/2022 07:32
