Category Archives: Harris Insights

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Survey: 50% of Americans Would Give Bitcoin a Try

A poll by analytics firm Harris Insights and cryptocurrency startup Gem has come up with some interesting results, one of which indicates that out of 2000 who participated in the survey,  50% of Americans would like to try out Bitcoin.

Another suggested that Americans with lower incomes are more likely to buy the flagship currency. Millennials came high up on the list of investors as numerous surveys conducted over the past year have already shown. Micah Winkelspecht of Gem commented on the “millennial factor”:

“We find that younger people with less income are more willing to put money in crypto. […] My guess is that crypto is of the digital age. And the younger generation is of the digital age and used to doing everything on the internet.”

The number of investors from lower incomes almost doubled that buying in the higher income bracket. Those Americans owning some cryptocurrencies earning between $50,000 and $74,900 per year was 11 percent, dropping to just six percent amongst higher earners of over $100,000 per year.

Bitcoin News has published a number of reports this year which illustrate the tendency of Millennials to withdraw from traditional finance options towards digital currencies such as Bitcoin. Kari Paul of MarketWatch commented recently:

“Over 82% of millennials say their investment decisions were influenced by the Great Recession when $14 trillion in wealth was lost…Millennials regard the stock market with skepticism. People between the ages of 18 and 39 are less likely to invest money in the stock market than are other generations, studies show.”

Across the Atlantic, in the UK, another recent survey suggested that far more education was needed about cryptocurrencies. The survey revealed that although up to 3 million people have invested in Bitcoin in the country through online trading platforms, many went in with virtually no knowledge about virtual currencies citing 2.5 million investors making commitments without fully understanding cryptocurrency.

An interesting survey finding has suggested that in the UK, in fact, as many as 31% would be happy to have at least some portion of their earnings paid in Bitcoin. Of the 1,000 respondents, 37% said that they would go for between 1-20% in digital pay and the rest in fiat.

The polls alone are not the whole picture, but when examined together do begin to show current cryptocurrency trends, most of which are favourable for the industry at this time of crypto volatility, given that they have all been conducted in recent months.

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