US investors show little interest in bitcoin

July 30, 2018
Chris Wheal

Nearly three-quarters of US investors have no interest in ever buying bitcoin, according to a new survey compiled by top pollster Gallup Panel.

Poll finds US investors have little interest in bitcoin

The results showed that 72% of those polled in the survey had “no interest in ever buying bitcoin”. While 26% were “intrigued by bitcoin but wouldn’t be buying it anytime soon”, only 2% said they “currently own bitcoin”.

Meanwhile, those who said they would probably buy bitcoin in the near future were less than 0.5% of the poll.

No inroads

The results of the Retirement Optimism Index survey, conducted by Wells Fargo and Gallup, were based on the results of nearly 2,000 adults with $10,000 or more invested in stocks, bonds or mutual funds.

“Bitcoin has yet to make significant inroads into any major subgroup of US investors,” said Gallup’s senior editor Lydia Saad.

Indeed, just 3% of men, 1% of women; 3% of those aged between 18-49 and 1% aged over 50 owned bitcoin.

Fear of the unknown

Lack of knowledge about cryptocurrencies appeared to be the main reason behind investor wariness of the sector.

Only about 30% of those polled said they knew something about digital currencies. Most of the rest said they’d heard about them, but didn’t know much, while 5% had not heard of them at all.

“The bigger constraint on bitcoin sales is likely the widespread perception that trading in the currency is not safe,” added Saad. “While risk is central to how investing works, three in four investors who have heard of online currencies consider bitcoin a ‘very risky’ investment.”

Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

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