About one in four investors in the United States is intrigued by Bitcoin. But what is preventing widespread adoption from reaching investors? Gallup’s poll gives clues to this question.
Gallup Poll About Bitcoin Investor Interest
The Wells Fargo-Gallup Investor and Retirement Optimism Index poll for the second quarter of 2018 was conducted online May 7-14. Provided a snapshot of US investors interest in leading cryptocurrency.
The poll recognized investors as American adults who have invested at least $10,000 in stocks, bonds or mutual funds, either in or out of a retirement savings account.
Of the 1,921 investors surveyed, 26 percent confirmed their interest in the digital currency, but said they would not buy it in the short term. 72 percent of the group is not interested in buying BTC.
In terms of cryptocurrency investors, only 2 percent of respondents said they actually own bitcoin.
More Channels Needed to Make Bitcoin Known
Gallup’s poll figures also indicated that only 29 percent of respondents have any knowledge of cryptocurrencies.
The remaining majority have heard of virtual currencies, but this is an unheard of knowledge.
5 percent of investors surveyed have never heard of cryptocurrencies at all.
Risk Perception Affects Bitcoin’s Investment Outlook
A very significant result of the poll is that 75 percent of investors consider bitcoin to be a “very risky” investment. 23 percent consider it “risky” and only 2 percent say it’s not too risky.
The answers are likely to be based on the massive volatility affecting the prices of bitcoin and other digital currencies. Several factors, such as pending regulatory decisions and increased trading volumes in major markets, have contributed to this.
The recent resurgence in cryptocurrency prices is expected to continue for some time, with steady growth expected in the medium to long term. If that were the case, a follow-up poll could provide very different results.
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