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crypto.news 2025-01-16 08:48:50

Over 50% of Americans sold gold and stocks to buy Bitcoin, survey shows

Over 50% of Americans sold gold and stocks to buy Bitcoin, survey shows

More than two-thirds of Americans now own cryptocurrency, ChainPlay and Storible’s survey reveals. A new survey from ChainPlay and Storible reveals that nearly 70% of Americans now own crypto, marking a big step for digital assets in the U.S. The survey, which included 1,428 participants, shows crypto is becoming a go-to investment for people of all ages. Chainplay’s survey on crypto ownership in the U.S. | Source: Chainplay Political events are playing a role, too. The win of Donald Trump pushed nearly 40% of Americans to put more money into crypto. Interestingly, 84% of these were first-time buyers, proving how major events can spark new interest in crypto. You might also like: ‘Americans are waiting, act now’: CMIC urges US Congress to legislate crypto Many Americans are also shaking up their portfolios to buy crypto. Over half (52%) said they sold stocks or gold to buy Bitcoin ( BTC ), while 20% have put more than 30% of their total investments into crypto. Clearly, people are betting big on the future of cryptocurrencies. “Looking to the future, our survey reveals a strong sense of optimism in the crypto market. A majority (60%) of investors expect to double their holdings by 2025, signaling high confidence in the continued growth of digital currencies.” Chainplay Younger generations are taking the lead in crypto adoption. Gen Z starts investing at an average age of 22, Millennials at 29, while Baby Boomers begin later, around age 50. However, the rise of crypto hasn’t come without risks. According to the FBI, crypto-related scams are on the rise, with Americans losing over $5.6 billion in 2023 — a 45% jump from 2022. The FBI received more than 69,000 complaints about crypto fraud, with investment scams making up 71% of the total losses, or about $3.96 billion. Read more: FBI warns of ICHCoin crypto scam costing Americans their life savings

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