A new survey of 2,500 UK citizens between the ages of 18 and 65+ reveals the opinions of Bitcoin ownership with some interesting results. The study was launched by Crypto Radar, one of the premier blogs for crypto-related news, press releases, and content related to Bitcoin and other altcoins.
Survey Question & Findings
The survey asked 2,500 residents of the United Kingdom the following question:
What’s your stance regarding Bitcoin investing?
- I do NOT own any. NOT Planning to buy any.
- Never heard of Bitcoin before.
- I do NOT own any. Planning to buy some.
- I own some. NOT planning to buy more.
- I own some. Planning to buy more.
According to the findings of the survey, when asked their stance on investing in Bitcoin, 67.5%. of UK respondents indicated that they neither owned nor planned on buying any Bitcoin. Compellingly, when demographic filters were applied to the results focusing on individuals 65+, the percentage skyrocketed to 76.2%. It further increased to 77.9% amongst males of retirement age.
Based upon the results of this survey, the present uncertainties surrounding Brexit have made British investors far less likely to choose risker investments, such as an asset class like Bitcoin, which is still in its nascency and highly volatile. This is especially true for those British investors in their retirement years where a safe nest egg is imperative.
The next most popular response among UK respondents was 20.3% who had never heard of Bitcoin. Interestingly, when demographic filters were applied to the results specifically targeting males between 25 to 34-years-old, the percentage soared to an astounding 25.5%.
Seeing that in 2019, the fact that over a quarter of British males Young Professionals surveyed, not to mention the full 20.3% of all UK respondents were unaware of Bitcoin, ought to give the crypto community pause. These survey results are demonstrative of the need for more education by the Bitcoin community to inform investors, especially male investors under 35. Of the UK respondents, 6.8% indicated that they did not own any Bitcoin, but were planning to buy some. Yet, when demographic filters were applied to the survey results factoring younger British investors between 35 to 44-years-old, the percentage rose to 8.9%, and increased even further amongst males of this cohort to 11.6%. Taking into account that this demographic is generally set within an established career path with disposable income, it is understandable why they are the least risk-averse to investing in a highly volatile investment like Bitcoin, given the potential for massive appreciation.
“Regardless of its enormous volatility, Bitcoin is a very attractive asset class for those investors, especially younger investors, who are willing to ride the volatility to tremendous gains,” stated Amine Rahal, CEO of Crypto Radar.
According to the results, a combined 5.3% of UK respondents to the survey already own Bitcoin, with those percentages soaring even further amongst British investors between 35 and 44-years-old.