Study: Half of Americans interested in crypto; lower earners more likely to invest

Half of adults in the US are keen to try “the new assest class” of Bitcoin, a new joint survey from analytics firm Harris Insights and startup Gem has revealed.

According to the research, roughly 8 per cent of Americans currently invest in crypto including Bitcoin, Ethereum and Litecoin, and, while 41 per cent of respondents said they would likely never invest in crypto, 50 per cent said they would be willing to try it out.

Surprisingly, the study found an economic split between those interested in the crypto space and those more tentative, with younger, lower earners more likely to engage with the digital asset.

Micah Winkelspecht, founder and CEO at Gem, said: “We find that younger people with less income are more willing to put money in crypto. My guess is that crypto is of the digital age. And the younger generation is of the digital age and used to doing everything on the internet.

“The cryptocurrency space is still in its Wild West phase, so there’s potentially some of that going on. When you have less to protect, you are more willing to take the risk.”

Six per cent of respondents earning $100,000 own crypto, while 11 per cent of those earning between $50,000 and $74,900 have invested. For those earning less than $50,000, the figure sits at 7 per cent.

Among those who are interested in entering the space in the future, 20 per cent said that they would like more information before investing.

“If these potential investors have access to better information and cut through a lot of this noise, that could be a big opportunity for crypto,” Winkelspecht added.