As we all know that there is a growing interest in cryptocurrencies. The development that has taken place in this domain is significant and has impacted different industries. It’s a global change, and most countries are now embracing bitcoin. From considering it a legal mode of payment to allowing trading in cryptocurrency, there has been a positive shift toward cryptocurrencies. This clearly highlights that the market is going to grow in the times to come, and hence if you still haven’t given a thought to investing in it, it is time to reconsider your decision and start looking for the best crypto exchange for making payment. But before that, let’s explore some of the key statistics that support the bitcoin up website growth of cryptocurrency.
In a survey conducted by The Ascent, a platform of The Motley Fool, 46.5 million people in the USA who never even bought cryptocurrency said they would probably start doing so soon owing to the slump in the stock market and the pain of rising prices. These additional Americans would join the 145 million Americans who now profess to own cryptocurrency but have made earlier transactions in them, or roughly 56% of the country’s whole population.
Global Crypto Investment Statistics
Ascent studied 2,000 Americans in May 2022 to learn more about their motivations for buying cryptocurrency or staying away from the market. Researchers questioned them about a range of topics, including if they had heard of cryptocurrencies, how they came across them, how the individuals bought shares in companions, and what strategies they used. Below are these astounding bitcoin facts. Let us investigate it.
- By 2023, the market for blockchain technology is anticipated to be worth $23.3 billion.
- Bitcoin’s growth rate from 2012 to 2020 was 193,639.36 percent.
- By 2026, the value of the cryptocurrency market will reach $1087.7 million.
- According to the customer perception for 2021, 97% of consumers believe in cryptocurrencies.
- The nation having the highest usage of bitcoin is Turkey (20%).
When you contemplate how recently digital currencies have been possible, the numbers given above are astounding. This should clarify why cryptocurrencies are advised to be utilized more frequently.
Even though many Americans think bitcoin is a fantastic investment, our data shows that want for first-time cryptocurrency investors is still rising.
The fact that 56% of Americans, or nearly 145 million people, profess to either currently possess or have previously held bitcoin shows how popular bitcoins are becoming. In the preceding two years, over 107 million Americans, or 74% of the same kind of people, made their first cryptocurrency investment. 46.5 million Americans, or 41% of those who had never held cryptocurrency, said they planned to use it in the upcoming year.
Since they believe they would be a terrible investment, a rising percentage of Americans—24%, up to 9% in 2021—who must not possess cryptocurrencies have held off on purchasing them.
The desire for economic and financial assimilation can be seen in reality. 52% of American adults have been evaluated using their retirement capital to invest in cryptocurrencies.
Obstacles Despite Increasing Bitcoin Demand
Most American consumers may still make money from investing in bitcoin, which is picking their curiosity. While 74% of Americans who now possess or have owned bitcoin made their first transaction during the previous two years, in the upcoming year, 41% of Americans who have not yet purchased bitcoin are expected to do so.
More significant investment is still faced with specific challenges, though. Scams are a major issue for cryptocurrency entrepreneurs and those who have never acquired cryptocurrency. People who have not invested in cryptocurrencies are increasingly doubting their validity and use as a commodity.
There are numerous straightforward ways to increase the attractiveness of cryptocurrencies. American adults are fascinated by bitcoin credit card payments and would be more inclined to buy virtual currencies if they could keep them in their primary bank accounts.
A cryptocurrency firm Grayscale Investments survey found that 55% of Bitcoin traders say they began trading in 2021. This should clarify why cryptocurrencies are advised to be utilized more frequently. The overwhelming consensus is that Bitcoin and Other cryptocurrencies are more likely to hold their value than other digital currencies, which are nonetheless far riskier and volatile.