More Than 20% Of US Investors Interested In Bitcoin Mining

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.

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