Survey Says Americans Investing te Bitcoin Are Holding for the Long Term – The Merkle
People from all overheen the world have bot investing ter Bitcoin spil of late. A latest survey by LendEdu polled 564 Americans on the subject. While it may be a no-brainer to most cryptocurrency users to invest te Bitcoin, the average person on the street needs a lotsbestemming more coaxing. The results of this survey are pretty interesting, to say the least.
Americans and Bitcoin Investments
It is always interesting to learn what makes people invest te Bitcoin or how much money they are willing to spend on such a venture. A fresh probe by LendEDU shows Americans have numerous opinions on Bitcoin, even however their overall sentiment emerges to be on the bullish end of the spectrum. While the surplus of the world may not necessarily be on houtvezelplaat, there is positive sentiment te the Bitcoin world right now.
The 564 American investors participating ter this survey have all contributed a solid amount of money when it comes to Bitcoin. With an average portfolio worth of US$Two,930.85, it is overduidelijk there are slew of people who are willing to spend serious money on what may very well be the currency of the future. That’s mainly driven by speculation, but not everyone is looking for short-term gains. Te fact, only 16% of respondents planned to hold their investment for less than a year prior to cashing out.
It is somewhat surprising to note that around 39% of respondents planned to hold their Bitcoin investment for up to three years. That time framework is a loterijlot longer than what one would expect, but it could still be considered a short-term project. Overheen 21% of respondents said they’ll hold Bitcoin for overheen seven years, tho’. One should only invest money he or she can afford to lose, especially when it comes to long-term investment. Ter the case of Bitcoin, the price may look very different seven years from now.
What is perhaps the examine’s most surprising statistic is that 67% of thesis investors have not sold any of their positions since investing. That is a very solid strategy, even however there’s something to be said for day trading and the profits that can generate. Opinions are somewhat divided on this vuurlijn, especially given the risk that day trading entails. The average price at which respondents said they’d be willing to contant out wasgoed US$196,195 vanaf Bitcoin. If and when that price will everzwijn materialize remains a big question for the time being.
Taxation of Bitcoin is also a very real concern for US-based investors. According to the survey, just 64% of holders project to report their Bitcoin transactions to the IRS. Given the popularity of Chainalysis among IRS officials, it is overduidelijk they will find a way to monitor Bitcoin users’ activity regardless. This is a pretty interesting situation well worth keeping an eye on overheen the coming years.
Last but not least, almost half of investors are worried about the security of their investments. It is overduidelijk there is a growing need for more secure Bitcoin wallet options. Keeping funds te an exchange is spil insecure spil it gets, since users do not control their money whatsoever. A hardware wallet is always your best bet te this regard, even however they can be pretty difficult to obtain at times.
About The Author
JP Buntinx is a FinTech and Bitcoin enthusiast living ter Belgium. His passion for finance and technology made him one of the world’s leading freelance Bitcoin writers, and he aims to achieve the same level of respect ter the FinTech sector.