Gallup poll shows only 2% of US investors own Bitcoin, 75% considers it very risky

29 Jul, 2018
by Fifi Arisandi
News
Gallup poll shows only 2% of US investors own Bitcoin, 75% considers it very risky

A recent survey by Wells Fargo/Gallup shows 72% investors in the US have no interest in Bitcoin, and only 2% currently own it. 

Despite the hype of cryptocurrency in the US, a recent survey conducted by Wells Fargo/Gallup to groups of investors shows a surprising result that only 2% of them currently own Bitcoin. As much as 72% of the respondents, who are US adults with $10,000 or more invested in stocks, bonds, or mutual funds indicated that they have any interests in the cryptocurrency, while the other 26% stated they are "intrigued by Bitcoin" but don't plan to buy it anytime soon. 

The poll, which was conducted online from May 7 to 14, 2018 via the Gallup panel, also shows a low level of awareness about digital currencies, with 67% stating they have heard of them but don't know much about them, 5% have not heard anything about them, and only 29% saying they know something about digital currencies. 

Safety is also a highlighted topic in the survey, with 75% considered Bitcoin very risky, 23% somewhat risky, and only 2% thinks it's not too risky. Age-wise, 3% of younger investors (aged between 18-49) admitted ownership of the cryptocurrency, while only 1% of investors aged 50 and above reported their ownership. 

Investors who earn $90,000 showed a higher number of Bitcoin ownership (3%) over those with lower income (1%). Men seemed to have a bigger interest in the cryptocurrency than women with 3% over 1%.

What can be concluded from the poll is that when it comes to investing in crypto, most investors are still on the "sidelines" as a result of their lack of knowledge in cryptocurrency. Another thing can be highlighted is Bitcoin's image as a high-risk investment has made most investors to hold back from investing in it. However, Gallup concluded in the report that those indicated they're being intrigued by cryptocurrency may convert to become investors soon after the currency becomes more mainstream. 

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Read more about: Bitcoin (BTC)

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