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Cryptocurrency investments continue to be popular among the young population. A recent survey by Bakkt showed that 40% of young Americans are confident about cryptocurrency investments.
The survey also showed that 32% of the respondents who were yet to make any cryptocurrency investment were interested, showing that the number of young people investing in crypto in the US will be high in the coming years.
Holding for the long-term
The survey also showed that most of the respondents who were venturing into cryptocurrencies were doing so for the long term. The survey was conducted on over 2000 American citizens to identify the reasons for or against making investments in the digital asset sector.
The survey results showed that 35% of the respondents aged between 18 and 29 invested in cryptocurrencies as long-term investments. 29% of the people within this age group invested in cryptocurrency to sell after making short-term profits.
36% of the respondents aged between 30 and 44 years stated that they had ventured into the digital asset sector as a long term investment and to accumulate value. Only 23% of respondents in this age group stated they were investing in crypto to sell for short-term profits.
Furthermore, the overall results of this survey stated that 28% of people found long term return on investment as the most appealing reason for venturing into cryptocurrencies. The results of this survey could show that crypto is slowly transitioning from merely being used for speculation to a long-term investment plan.
Elderly are Less Interested in Crypto
The Bakkt survey also shows that the elderly are the least interested in cryptocurrency. The overall results showed that 69% of the respondents who stated they owned cryptocurrencies were aged between 18 and 44 years.
The report also showed that only 14% of the respondents aged above 60 years wanted to invest in cryptocurrencies as long-term investment strategies. Moreover, 52% of the respondents in this age group stated that they were not interested in investing in cryptocurrencies.
The lack of interest in cryptocurrencies among respondents above 60 years was clear, with 54% of them stating that they do not know anything about cryptocurrencies.
The Bakkt survey comes at a time when the level of crypto adoption in the US is increasing. Previous research has ranked the US as the most prepared in terms of digital asset adoption.
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