In an interesting survey involving more than a thousand American residents, a technical blockchain company Clovr, found that the average Bitcoin investor is a rich young male.
The survey also showed that 75% of all participants appreciate cryptocurrency and are particularly familiar with Bitcoin. 62% of the participants are also confident that they are knowledgeable enough to explain cryptocurrency to a layman with zero knowledge of the subject.
Interestingly, the survey agrees with the findings of an earlier survey that millenials are more keen on cryptocurrencies and are more likely to invest in it than earlier generations. Males also proved to dominate the industry because they are more open to risk taking than females as backed by a study carried out in 2016 which showed that female investors are more careful when tt comes to risk taking.
Those participants who were not interested in cryptocurrency were just skeptical due to the instability that the market has experienced since the year began and most of them are afraid of losing their “hard earned money.”
Meanwhile, the cryptocurrency industry seems to be gaining grounds in the U.S although slowly. According to a report published on 22 September, the U.S government has passed into law three bills that will help to encourage the growth of the industry in the country.
According to Tom Emmer who introduced the bills, the blockchain industry is relevant to the private sector of the U.S economy and should be embraced to help develop the economy.
“The United States should prioritize accelerating the development of blockchain technology and create an environment that enables the American private sector to lead on innovation and further growth, which is why I am introducing these bills,”
This is a welcome development considering the fact that the U.S has not been very friendly to the cryptocurrency industry both in terms of legislation and regulation.
Apart from legislation, efforts are also being made by cryptocurrency developers to achieve wide adoption by building applications that incorporate the use of cryptocurrency on a daily basis.
Blockchain technology is also enjoying acceptance from industries and governments around the world due to its relevance in almost all fields of endeavour. This study of U.S residents suggests there is hope for the industry as it shows many are aware of the industry.
It also shows that many more people may invest in cryptocurrencies in the future, although most of them do not yet see cryptocurrency displacing fiat currencies in the future.