A smartphone displays the Bitcoin GBP market value on the stock exchange via the Yahoo Finance app. (Photo by Guillaume Payen/SOPA Images/LightRocket via Getty Images) The bitcoin price has ticked up again recently on hopes a U.S. exchange-traded bitcoin fund and interest from institutional investors will mean a fresh wave of investment into cryptocurrencies.
Now, a survey from pollsters Gallup and commissioned by banking giant Wells Fargo has revealed just how few people in the U.S. have put their money into bitcoin and cryptocurrencies — highlighting how much the price could rise if bitcoin goes mainstream and attracts millions of casual investors. According to the survey of almost 2,000 people, just 2% of investors say they currently own bitcoin, and less than 1% plan to buy it in the near future.
While most investors say they have no interest in ever buying bitcoin, about one in four (26%) say they are intrigued by it but won’t be buying it anytime soon. There are millions of people who haven’t considered investing in bitcoin.Wells Fargo / Gallup “The price of bitcoin is back on an upswing after crashing earlier this year, causing some to say its bubble is again about to burst and others to argue that its value will only accelerate as more merchants inevitably adopt it,” Gallup wrote.
“For now, most investors are on the sidelines, knowing little to nothing about bitcoin. Few are already invested in it, and even fewer plan to jump in soon,” the pollsters added.
“Looking to the future, however, many younger investors who currently say they are intrigued may be converted to investors once the currency goes more mainstream.” Bitcoin exchange volume has dipped this year after a massive surge throughout 2017. Read more from forbes.com…
thumbnail courtesy of forbes.com