Survey: Number of U.S. investors holding Bitcoin has tripled since 2018

A recent survey shows that Bitcoin awareness, interest and ownership have increased among young American investors over the past three years.

The study, conducted by global analytics and consulting firm Gallup, showed that the number of U.S. investors holding Bitcoin jumped from 2% in 2018 to 6% in June 2021. The study defined "investors" as adults with $10,000 or more invested in stocks, bonds or mutual funds.

The firm also reported that Bitcoin holdings among surveyed investors under the age of 50 more than tripled to 13%, up from 3% in 2018. Unsurprisingly, the firm revealed that Bitcoin holdings among investors over the age of 50 were much lower at just 3%, though that number also tripled from 1% in 2018.

The researchers noted that the relatively low ownership of Bitcoin can be contrasted with more mainstream investments. According to the survey, 84% of respondents said they had invested in stock index funds or mutual funds, 67% said they owned individual stocks, and 50% said they owned bonds.

“Bitcoin’s ownership rate, at 6%, is closer to gold, with 11% of investors saying they own gold.”

The findings come from the Gallup Investor Optimism Index survey of 1,037 U.S. investors aged 18 and over, conducted from June 22 to 29, 2021. The study's sample is weighted to be demographically representative of the U.S. adult population, with a maximum sampling error of ±5%.

Other findings show that the risk perception associated with Bitcoin has decreased over three years. Almost all investors surveyed consider Bitcoin to be a risky investment, however, the number of people who consider Bitcoin "very risky" has dropped from 75% to 60%. The remaining 35% now consider it "somewhat risky" and only 5% consider it not risky.

Gallup concluded that large investments in Bitcoin by well-known companies such as Tesla, Square and Morgan Stanley could give Bitcoin more mainstream credibility.

A similar survey of institutional investors conducted in May and June showed that more than 80% of hedge fund executives and wealth managers surveyed who already held crypto assets intended to increase their holdings.