Bitcoin, Ethereum, Dogecoin Remain Unpopular Investment Options With Americans – Survey Says Only 10% Invest In Crypto – Bitcoin (BTC/USD)
About 60% of Americans believe investing in digital currency is a risky endeavor – up 15% from 2021. Crypto remains among the least popular investment options, a survey found, with only 10% saying they invest in the the digital assets.
What happened: The findings, revealed recently CNBC Make It: Your Money examination, carried out in collaboration with Immediately, reveals that only 26% of Americans see it as moderately risky. With the potential for high returns, many investors remain cautious and uncertain about the long-term security of their digital investments.
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Younger generations seem to be more open to taking on the risks associated with investing in cryptocurrencies such as Bitcoin BTC/USD, Ethereum ETH/USD and Dogecoin DOGE/USD than their older colleagues. According to the survey, nearly four in 10 Gen Zers (25 and under) and about half of millennials (ages 26 to 41) believe investing in crypto is very risky.
With Gen Xers (ages 42 to 57) the view is more conservative with six in 10 considering crypto investments as high risk. This more risk-averse attitude is even pronounced among the baby boomers and silent generation (age 58 and up), with 80% of them labeling crypto investing as high risk.
Why it’s important: The crypto market was shaken when FTXone of the world’s largest cryptocurrency exchange platforms, plunged from its $32 billion valuation in January to filing for bankruptcy on November 11. Even more disturbing, another company, BlockFifollowed suit just days later, filing for bankruptcy on November 28. The potential for further losses makes the outlook for the cryptocurrency market uncertain, with even more questions emerging as investors struggle to make sense of the recent crash.
Crypto lags behind other investments, according to the survey, which shows that only a small amount of Americans have invested in it. Millennials remain the most crypto-savvy generation with 15% of respondents owning crypto – much higher than the 12% of Gen Xers and Gen Zers, and significantly higher than the under 5% of Baby Boomers and the Silent Generation.
Price action: At the time of writing, apex crypto Bitcoin was trading at $17,163, up 1.50% in the last 24 hours, according to Benzinga Pro data.
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