Female crypto investors remain bullish despite the 2022 downturn
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(Kitco News) – A recent survey conducted by crypto trading and investment platform BlockFi has yielded some interesting results as it showed that women across the US remain bullish on cryptocurrencies despite their dire performance in 2022.
The survey – which was conducted through a third-party survey panel on September 20 and included 1,075 female-identifying Americans between the ages of 18 and 65 – sought to gather the views of American women on their current motivations, behaviors and dispositions around crypto. investment and financial well-being.
Overall, women are more reluctant to invest in the cryptocurrency industry compared to men, with 77% of respondents viewing crypto as a risky investment. Ten percent of respondents indicated they chose crypto as their first investment, with 17% of Millennial women and 11% of Gen Z women falling into this category.
Seven percent of Gen-Xers – which includes individuals born between 1965 and 1980 – also identified crypto as their first investment, which came as a surprise to researchers as these respondents had more time to invest in other asset classes before the rise of cryptocurrencies.
“The latest edition of BlockFi’s Women x Crypto survey data shows that many women are looking to the crypto markets to make their first investment,” said Flori Marquez, Founder and Chief Operating Officer of BlockFi. “And while the younger, digitally native generations are more likely to adopt crypto, Gen X and Baby Boomers are also open to participating.”
A third (33%) of female respondents indicated that a retirement vehicle was used as their first entry point into the crypto market, while a quarter (25%) of respondents said they have yet to invest in the asset class.
Looking ahead, more than one in five (22%) said they intended to buy crypto in the next year, with 20% of Gen Z women calling Bitcoin the “best long-term investment,” among others in a number of investment choices including property and individual shares.
Female crypto holders also indicated a high level of resilience to the ongoing weakness across the market, with 69% of respondents who currently hold crypto saying they are “holding crypto and staying hold-only.”
The main area of concern revealed by the survey centers around the idea of women being welcomed into the crypto community. Only 21% of respondents report feeling welcome in the community, while a majority (52%) are unsure, indicating “a lack of knowledge about the community rather than being seen as unwelcome,” the report said .
In addition, the survey found that one in four women said they are not confident about their wealth-building investment strategy, while nearly half (45%) feel financially secure.
Overall, Marquez suggested that the ongoing downturn in the crypto market is the perfect time for the industry to work on increasing the ranks of female hodlers.
“As many have noted, the best building happens during bear markets. It’s important that we use this time to build products and communities that are inclusive for all investors. At the end of the day, BlockFi’s vision is to accelerate global prosperity and is committed to ensure that everyone feels welcome regardless of where they are in their crypto journey.
Disclaimer: The views expressed in this article are those of the author and may not reflect the views of Kitco Metals Inc. The author has made every effort to ensure the accuracy of the information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is for informational purposes only. It is not an invitation to exchange goods, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept responsibility for any loss and/or damage arising from the use of this publication.
