Owners of Cryptocurrencies: The Recent Trends of 2020

Cryptocurrency trading has been permanently increasing since the very beginning of 2020. In the first days of August Bitcoin, for instance, cracked a new record and reached  USD 11.500 level. The rally started in February, 2020 and had been keeping its track for the following 5 months. Experts are analyzing the reasons and background of such spur.

The recent researches say that, as for the U.S., more than 15% of adults are the Bitcoin or another cryptocurrency owners. For about a half of them bought their first Bitcoin in 2020. Forbes estimates the total investment in cryptocurrencies in the volume of approximately USD 67.5 billion which constitutes nearly USD 4.000 per investor. 44% of Americans who have obtained Bitcoin assume that their financial position has become stronger recently.

Earlier, the majority of cryptocurrency owners was constituted of the following groups:

  • Well-educated and wealthy men;
  • Millennials;
  • Clients of top-banks.

This year has demonstrated a significant shift in the demographic structure of cryptocurrency owners. Other social strata has been expressing more and more interest in this sort of investing. They are the following:

  • Women: their share in cryptocurrency investors has increased by 13% this year.
  • Minorities (African-American and Hispanic people).
  • Older people.
  • Less-educated people.

Primarily, it is explained by the fact that the people regard cryptocurrencies as a proper and safe way not only to save their money but also to multiply them significantly. It is also noticeable that many large banks turn to cryptocurrencies and are ready to provide custodian services for them. It makes this market more and more attractive for different kinds of individual investors. It is also witnessed by the following Crypto Friendliness Score:

More and more banks are also facilitate cryptocurrency transactions via their cryptocurrency wallets.

All and all, these factors make it possible for pundits to predict the sustainable growth of cryptomarket in short- and medium-term periods.

Be the first to comment

Leave a Reply

Your email address will not be published.