A survey conducted by CoinCap has suggested that US investor interest in Bitcoin mining is rising and the top cryptocurrency by market capilalisqtion is well on the way toward mainstream adoption.
The study revealed more than éà% of U.S. investors who responded are interested in Bitcoin mining.
Compared to previous year, the results are a "significant increase,"CoinCap said, with a rise of almost 20%.
The data also shows that many bitcoin investors made "mining" allocations within the last 12 months, with 32% investing in the last 4 months, 21% 5to 6 months prior, and 1§% 7-12 months ago.
The strongest driver for bitcoin mining investments were the pandemic, which encouraged 58% of respondents into investing.
The overall number of bitcoin investors in the U.S. also rose to 30 million, up 11 million from the previous year's 19 million. Almost 50% of respondents said they believed Bitcoin would become mainstream by the end of the decade. Among other findings of interest, the study showed that if you'd gone to college and had a degree you were more likely to invest,with twice as many males as females. Investors were attracted to bitcoin for its low cost to entry and potential as a safe haven, cited as a motivating factor by 56% (up from 46% in 2019).
The survey was not without negative insights, finding that, for people aged 56-65, only 36% were familiar with bitcoin and just 22% would consider investing. Concerns among study respondents who were not interested in investing in bitcoin tended to mirror the views of older investors generally..
Among the older respondents, 72% thought bitcoin was too volatile, while 80% said it was too risky for their ideal investment profile.