Bitcoin adoption is growing – Investors have never been more tempted by Bitcoin (BTC) and cryptocurrencies. While the king of cryptocurrencies recently hit $ 13,800, a report from Grayscale tells us that now a majority of average people are considering buying cryptocurrencies.
80% of BTC owners have bought it less than a year ago
The Grayscale investment fund recently published a study on “Bitcoin investors in 2020”.
We, therefore, learn that interest in Bitcoin is growing strongly compared to last year. Of the 1,000 US citizens surveyed this year, 55% say they are considering investing in BTC. They were only 36% in 2019.
Another interesting metric: 83% of those who have already invested in Bitcoin report having done so recently, in the last 12 months at most. In more detail, we even see that 64% have invested over the last 6 months at most, despite the current pandemic.
The Covid-19 has even accelerated the shift to buying bitcoins
Among the rather surprising news that we learn from this report, we even discover that this global health crisis has motivated American investors to make their crypto-investments.
63% say they have decided to buy BTC because of the consequences of the Coronavirus pandemic.
In the end, Grayscale’s study estimates that the market for potential investors in Bitcoin today is 32 million people in the United States. A nice increase compared to last year because they were only 21 million.
One last notable and important point for the adoption of Bitcoin: respondents seem to be increasingly familiar with the invention of Satoshi Nakamoto. Eh yes! 62% of investors said they were “familiar” with how Bitcoin works – it was still just 53% last year alone.
2020, therefore, saw the democratization of Bitcoin. Before the BTC rush of 2017, cryptocurrency was still very little known to the general public – except bad media advertising. In recent years, there has been a significant shift in mentality, which now leads a majority to view bitcoin as an asset in its own right. An asset that they also find very interesting in the event of a crisis.
We had a PayPal announcement this week that will allow crypto transactions on their network and JP Morgan that started looking at Bitcoin with other eyes comparing it to gold.
