Bitcoin was intended as currency, rather than an investment tool. However, it ironically has become one of the most preferred investment options in the world. As per a new survey by Grayscale Investments, about 36% of the investors in the United States are willing to invest in BTC. That means, despite all the controversies surrounding it, BTC has a potential of over 21 million new investors alone from the US.
BTC has had a rollercoaster ride in the last 2 years. In 2017, it broke all records to reach $20,000, and in the following years, it nosedived to as low as $3,000. It started recovering since February 2019, more than tripling in the next 3 months. At the moment, it has fallen back to $9,400 – $9,600 mark, which could make people wary about the future.
Nonetheless, a large section of American investors still remains interested in virtual currencies, and hence, it could just be the time for the next investor wave the entire crypto community had been waiting for. The survey in question, titled ‘Bitcoin 2019 Investor Study’ was jointly conducted by Grayscale Investments and Q8 Research, on 1,100 investors in the US.
The report indicates that about a third of the 63 million investors in the US were willing to invest in Bitcoin, which is about 21 million investors. These three factors are motivating the people to invest in the apex cryptocurrency. These are small investments, significant growth potential, and the fact that BTC is scarce hence would increase in value with growing demand. The report says,
Investors are constantly looking for new ways to diversify their portfolios as traditional assets and markets have begun to move more closely in sync with one another. Increasingly, savvy investors recognize that bitcoin and other digital currencies may have unique investment characteristics that provide diversification far beyond the basic 60% stock/40% bond portfolio allocation.
At a time when regulators across the globe, including the US President Donald Trump, are criticizing crypto and calling for stricter regulations, the report brings new hope for the US industry stakeholders. Earlier today, crypto-blockchain company Ripple also urged the government to lay favorable policies for the industry, rather than making life difficult.