43% of crypto investors plan to ‘hodl’ long-term

Close to half of cryptocurrency investors intend to ‘hodl’ their hauls over a long period, research by South Korean exchange Bithumb has revealed.

The survey, which asked around 2,500 users of the platform about their investments, found that only 27 per cent of respondents had their eye on short term gains. A further 13.1 per cent purchased crypto as an investment, and 10.5 per cent for long-term life goals such as marriage and owning property.

Bithumb said: “As virtual currency continued to be recognised as an asset in major idustralised countries, the perception of virtual currency investment by domestic investors is gradually maturing.”

Perhaps unsurprisingly, the majority (49.1 per cent) of the 42.8 per cent of respondents who intend to keep hold of their investment long-term are over 50-years-old, compared to 40 per cent of those in their 20s.

And the prospect of capital gains tax doesn’t put off 39.5 per cent, who say they would keep their invesment – a figure that’s risen by 11 per cent since last year.