1 in 10 Americans Have Invested in Cryptocurrency in the Past Year
July 22, 2021
Cryptocurrencies like bitcoin have exploded in popularity recently. According to a recent study, more than 10% of Americans have bought or sold some form of cryptocurrency in the last year.
The survey, conducted by researchers at the University of Chicago, found that 13% of Americans have invested in cryptocurrency during the previous 12 months. In that same period, nearly a quarter (24%) of Americans have invested in stocks.
As one would expect with new technology, crypto investors tended to be younger, with an average age of 38. The average age of those who had invested in stocks was 47.
The researchers found that stock investors tend to be more educated and have a better income. Thirty-five percent of the crypto investors had an annual income of less than $60,000. Just 27% of stock investors had an income below $60,000. More than half, 51%, of stock investors have earned a college degree, while only 45% of crypto investors had earned one.
The researchers noted that because crypto investors tend to be less educated and more financially insecure, they seek out sound advice before investing in cryptocurrencies, which are generally more volatile than stocks.