Statistics on Bitcoin Investors Reveal Rich Millennials Are Interested

Statistics on Bitcoin Investors Reveal Rich Millennials Are Interested. Millennials have been reported as being people who are more interested in investing in the Bitcoin and other cryptocurrencies than other people. A report from the Clovr company, a group supporting the development of blockchain technologies, found that younger and wealthier people have a greater likelihood of investing in the Bitcoin among many other currencies in today’s field.

Clovr conducted a survey of about a thousand Americans in one of the first major studies to figure out who is responsible for Bitcoin trading. The survey found that the currency field is expanding and growing, but at the same time people in certain areas or demographics are clearly likely to invest in the currency.

General Demographics

In a sign suggesting that people who have more money are more willing to invest in the bitcoin, about 47 percent of people with an income of $75,000 to $100,000 stated that they have invested in the bitcoin or another cryptocurrency. About 43 percent of those whose incomes are $100,000 or greater have done so.

This is significant in comparison with what others are spending. About 24 percent of people who have annual incomes under $25,000 have invested in cryptocurrencies. The total percentage of investors declines as the annual income total decreases.

41 percent of millennials surveyed also say that they have invested in the bitcoin. Those who are older are less likely to invest; generation X members are at a 24 percent rate on investing in currencies. That number falls to 18 percent for baby boomers.

People in urban environments have a greater likelihood to invest in these currencies. About 42 percent of people in the survey who live in urban areas have invested in a currency. That number is nearly twice that of the number of rural residents who have invested in any currency.

Also, men are almost twice as likely as women to invest in cryptocurrencies. 43 percent of men surveyed stated that they have invested in these currencies. Only 23 percent of the women involved have done so.

A Key Note

While the numbers from Clovr suggest unique trends, it should be noted that most people still are not interested in the currency field. About 34 percent of people in the survey have actually invested in at least one cryptocurrency.

General Feelings

The feelings that people in the survey have over the Bitcoin and the cryptocurrency field were mixed. About 70 percent of people said they are uncertain about how the Bitcoin will work. About 33 percent of people say they are confused about it. Meanwhile, around 30 percent of people say that they are excited about the currency field and that they are anticipating the future with digital currencies.

More than half of the people who were surveyed stated that the best reason for investing in cryptocurrency is because of the possible return on one’s investment. On the other end of the spectrum, more than half of those people argue that the currency field is too risky. Many others state that they do not know enough about the field to enter into it and to make a good decision on what they will invest in.