Wells Fargo Reveals on Two Percent Ownership of BTC by Americans
As per a new poll conducted by Wells Fargo, only two percent of US citizens reported their own bitcoin possession. The poll also includes adults with a minimum of $10K and other investments in stocks, funds, and others. Around 26% of those that took part in the poll were interested in BTC despite any plans for investments within the foreseeable future.
More Adoption Less Risk
The Gallup Investor poll by Wells Fargo, aka the IRO index, took place in May for one week this year. Almost 2000 Americans took party in the index poll over the age of 18 or above. Published by Lydia Sadd, the report stated that given Bitcoin’s performance so far, the price has skyrocketed, plummeted and risen again, clearly defining the leading cryptocurrencies volatile nature as with all other digital coins.
Around three-quarters of the local investors that took part in the poll claimed that investing with cryptocurrencies was risky, with 23 percent deeming the digital coins as slightly risky. The remaining two percent of Americans were interested in crypto-investments and did, in fact, possess the cryptocurrencies and a minor 0.5% saw no threats from Bitcoin and other currencies.
In addition, given the majority of investors with a negative outlook on Bitcoin as a risky investment with no predictable outcome, a majority of the Americans involved with investing prefer solid and secure activities as well as more precautious approaches to investing. Lydia also stated that many younger investors will eventually hop on board as cryptocurrencies become more widespread an adopted.
Currently, most American investors are observing, given a lack of knowledge regarding cryptocurrency and its investments. Additionally, some have invested while others may possibly follow up. The poll also shed light on a mere two percent ownership of Bitcoin within the country and goes mostly to the richest investors on the market while those with lesser incomes have not poured any funds into the asset just yet.
She goes on to add that around 29 percent of all investors were informed on Bitcoin and cryptocurrencies. 67 percent remained uneducated on cryptocurrencies despite knowing of them and an additional five percent were completely unaware of the new-age currency’s existence.