Grayscale Investments, arguably the world’s largest and most influential crypto fund, published results of a survey conducted last month that measured public sentiment, knowledge, and adoption of Bitcoin among new accredited and institutional investors.The firm found that 62% of all respondents were now “very familiar” with Bitcoin and were either already invested or looking to soon invest in the pioneer cryptocurrency.
This year’s #Bitcoin Investor Study revealed that 62% of US respondents are now “very familiar” with #Bitcoin versus 52% who said the same last year. Time for mainstream acceptance? We think so. Read the full findings here: $BTC https://t.co/9fyRIxJXfD pic.twitter.com/VEW5KAYasX
— Grayscale (@Grayscale) December 7, 2020
Millennials and new investors turn to BitcoinIn the “Bitcoin Investor Study” for October 2020, Grayscale found that over 83% of all respondents made crypto investments within the last year, indicating that digital currencies are an increasingly attractive component of modern investment portfolios.The global pandemic was a key driver of Bitcoin investments in 2020, with 38% of new Bitcoin investors reporting that they invested within the last four months. In addition, nearly two-thirds of those reported that the ramifications of COVID-19 were a factor in their decision to do so.
“As equity markets experience sustained volatility and once-strong correlations between various asset classes have begun to unravel, Bitcoin appears to be gaining steam as market participants seek investments that can act as safe havens within a portfolio.”
The fund further noted that as the new, so-called “digital generation” grows up, they may turn to more digital forms of value.