[2021-08-26]11% of young Americans have invested their stimulus checks into cryp

mindrust

legendary

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Quote from: bbc.reporter on August 29, 2021, 12:45:46 AM

11% is a small number, however, yes it might be a very noticeable trend for the regulators. I reckon this is why they want to create stricter rules and impose more limits on those who want to buy and invest in the cryptospace. I speculate that everything in the cryptospace might become similar to Hong Kong where it is needed to be a professional licensed trader to directly buy and sell cryptoassets.

Actually 11% is a very big number. It suggests that there are almost as many stocks investors as crypto investors. I would expect a number like 5% but 11% tells me that people are desperate and looking for an alternative. This is kind of alarming.

They don't really prefer the "safer" investments but they put their money on crypto which is riskier than anything else.

bryant.coleman

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Quote from: bbc.reporter on August 29, 2021, 12:45:46 AM

11% is a small number, however, yes it might be a very noticeable trend for the regulators. I reckon this is why they want to create stricter rules and impose more limits on those who want to buy and invest in the cryptospace. I speculate that everything in the cryptospace might become similar to Hong Kong where it is needed to be a professional licensed trader to directly buy and sell cryptoassets.

No. It is not a small number, given the pandemic situation. COVID has impacted a lot of Americans really hard and young people are the worst affected demographic group (given their relative lack of savings). Out of those who were able to invest, the proportion of those who went for cryptocurrency is almost the same as those who went for stocks. Can you believe that? The combined market cap of NYSE+NASDAQ stands at $50 trillion, while that of the cryptocurrency market is around 1/25th of that amount. And trust me, when these youngsters grow up, they are not going to change their investment pattern.

SFR10

legendary

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Crypto Swap Exchange

As someone who hates reading about most newcomers seeing it as an investment asset, I still enjoyed the part that mentioned the percentage of those that see it as a long-term investment ^[60%], but one thing that bothered me was the part that said their main source for analyzing the market is "social media".
^{- There are a lot of active clowns on platforms like Twitter and the fact that they use such platforms as their main source, worries me!}

Lucius

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Blackjack.fun-Free Raffle-Join&Win $50🎲

Quote from: bbc.reporter on August 29, 2021, 12:45:46 AM

11% is a small number, however, yes it might be a very noticeable trend for the regulators.

I would not agree that this is a small number, especially if you do not have data that this is a population of people between the ages of 18-34 who make up over 20% of the total US population (76.1 million). So we are talking about a figure of slightly less than 8.5 million people who, according to research, have invested part of the money from stimulus checks in cryptocurrencies.

If we assume that each of them has invested at least $500, we get the amount of $4 250 000 000, which is money that significantly affect the crypto market - which is more than clearly reflected in the price.

bbc.reporter

legendary

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11% is a small number, however, yes it might be a very noticeable trend for the regulators. I reckon this is why they want to create stricter rules and impose more limits on those who want to buy and invest in the cryptospace. I speculate that everything in the cryptospace might become similar to Hong Kong where it is needed to be a professional licensed trader to directly buy and sell cryptoassets.

retreat

sr. member

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This is a survey that was only conducted in America, not globally. year after year young people have a great interest in crypto and surely the number will continue to increase over time. I don't want to speculate but mass adoption is clearly going to happen in the next few decades

Quote

Roughly half of the respondents were found to have funneled their stimulus money into investments broadly — with 15% seeking exposure to stocks, 9% investing in mutual funds, and 6% backing exchange-traded funds (ETFs).

The majority of young Americans appear bullish on cryptocurrency’s future prospects, with 60% of survey participants indicating they see digital assets as a long-term investment. By contrast, 21% described crypto as a short-term investment, while 26% said they are engaging with the market out of excitement.

The appetite of young Americans for crypto appears to be growing, with a Harris Poll carried out in March indicating that only 7.5% of the respondents had invested their stimulus checks into digital assets.

more: https://cointelegraph.com/news/11-of-young-americans-have-invested-their-stimulus-checks-into-crypto

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