As the cryptocurrency market continues to switch between bearish and bullish trends, it seems that its volatility hasn’t put off a lot of investors in the United States who continue to purchase digital assets.
New research shows that 39% of American investors are buying even more crypto, as they look into new ways to invest and preserve their wealth as the unfolding financial situation becomes more unclear, according to a survey by The Balance published on August 4.
Other investment choices
That said, 41% of survey participants said they invest more in stocks under the effect of the market uncertainty, whereas about a third of them are investing more in both exchange-traded funds (ETFs) and index funds, respectively.
At the same time, 34% of investors reported no changes in their investing habits at this time. A little over a quarter of the polled investors admitted to investing less. Specifically, nearly 20% of investors said they were investing less in crypto when surveyed.
Age differences at play
In terms of generational differences, crypto investments in times of uncertainty are more popular among the younger crowd. Close to half of millennial and Gen Z investors (aged 41 and younger) said they preferred crypto as opposed to just under a third of Gen X or older investors.
The online, self-administered survey took place between June 30 and July 9, 2022, and covered 1,200 Americans over the age of 18 who at least partially manage their own finances.
Meanwhile, another survey, studying the effect of crypto mentions in dating app profiles, has found that crypto investors were perceived as “more attractive and intelligent” than non-investors in the space, Finbold reported in late July.
It is also worth mentioning that a study on the current state of NFT adoption has found that more than 30% of crypto enthusiasts have stated that they would never purchase non-fungible tokens (NFTs).
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