Investors are Switching From Stocks to Crypto, Here is Data to Prove It
Cryptocurrencies emerged with the launch of Bitcoin (BTC) a little over a decade ago, but they are fast becoming the better investment alternative even for hardcore traditional market investors.
A recent data released by Civic Science puts a number to this trend as the percentage of the new generation population who has invested in cryptocurrency (or would if they could) as a long-term growth investment has jumped from 23% to 30%.
The research data shows a complementary growth in the interest in digital currencies, with the percentage of investors who say they are not interested in BTC, Ethereum (ETH), or Dogecoin (DOGE) slipping from 80% back in May this year to 68% this week. Conversely, investors interested in investing in either of these aforementioned digital assets soared from 20% to 32% within the same period.
The survey took the investor inquiry further by assessing the likelihood of investing either in traditional stocks or cryptocurrencies if the means are there. Per the results, those who would favour stock reduced from 90% in June to 76% as of November this year. Those in the crypto camp increased from 10% to 24% within the same time frame, giving the needed confirmation that the growth of the crypto industry is very organic.
While many still consider the digital currency ecosystem's nascent stage, many futuristic innovations are making their way into the crypto space. The implication of this is that the usability of the technology powering digital currencies will now transcend their primary use as payment and investments. Rather, they will introduce a unique utility that will help reshape the way the digital economy operates.
The blockchain industry is moving quickly from decentralized finance to non-fungible tokens and to metaverse related innovations powered by global corporations like Facebook. Investors seem to understand that early adopters will be the biggest beneficiaries.
Image source: Shutterstock
Coinbase CEO Advises New Crypto Investors to Carefully Evaluate Market Risk and Crypto Volatility