A Wells Fargo/Gallup poll report produced on July 27 based on data from an online survey conducted on May 7-14 found that while there are not many people in the United States who are investing in the bitcoin, people are still interested in this investment option. The report also found that there is a sense of worry among people surrounding the risk associated with the bitcoin and whether it is a viable investment for people to look into.
Investors in the United States with $10,000 or more in investments in stocks, bonds, or mutual funds were surveyed regarding the bitcoin. The survey found that about 2 percent of people who invest this much in the market have some sort of ownership in the bitcoin.
In addition, 26 percent of people who were surveyed said that they are interested in the bitcoin and would consider investing in it someday.Advertisement
72 percent of people surveyed said that they have no interest in investing in the bitcoin. The report suggests that while the bitcoin has been viable to some, there are too many issues and worries among the public over how the bitcoin and other similar currencies work.
Details on the number of people involved in the report were unclear based on current reports, although Gallup has been a trusted entity in the polling industry for years in many subjects of note.
Do They Know About It?
The poll also found that about 96 percent of people have heard of the bitcoin, thus showing that there is a clear sense of knowledge about the currency. But only 29 percent of the people who were surveyed also said that they understand how the bitcoin and other cryptocurrencies operate. The remaining people said that while they have heard of the coin, they do not have enough knowledge on hand to make a decision on possible investing in that currency.
Worries About Risk
Although the bitcoin is growing in popularity, not many people actually know about how the currency works. In particular, a majority of people surveyed stated that they had some concerns about the risks involved with getting the currency to run well.
Around 75 percent of participants said that the currency is very risky. About 23 percent also said that the currency is somewhat risky. The results suggest that people who are investing in the bitcoin are being extremely cautious and wary about what they are entering into and that they are being alert over what they might find with the currency in mind and how the investment one puts in might work.
What About Demographics?
Not much was found in the report on the demographics of the people who are investing in the currency. However, the report did state that of the people who responded to those questions, the young males who participated in the report were the most confident people with regards to investing in the bitcoin. It is unclear if this point might be relevant or if this is not necessarily a point of deep relevance over how the currency may be handled.