20 million adults could dive into the cryptocurrency market over the next year, nearly doubling today's retail investor base, says crypto exchange Gemini
- Nearly 20 million adults in America are planning to buy cryptocurrency over the next year, a study by
cryptoexchange Gemini found
- The investor population in the
cryptocurrency marketcould nearly double over the next 12 months.
- The next wave of crypto buyers is also likely to skew older than current holders, with an average age of 44.
AdvertisementThe ranks of
The firm looked into the "crypto-curious audience," which it defines as people who don't own cryptocurrency but indicate either wanting to learn more about it or who are planning to buy it soon.
Among its findings, about 13% of adults in the US plan to buy cryptocurrency in the next 12 months and that figure translates to 19.3 million people. That amount of Americans picking up cryptocurrency would nearly double the current population of investors, Gemini said.
"Given what we know about the demographics of the crypto-curious audience, the profile of the average crypto holder could also soon be changing in a very welcome way," said the firm, which based its State of US Crypto Report on a total sample of 3,000 people ranging from 18-65 years in age with $40,000 or more in household income.
The snapshot of retail investors arrives at a time of growing institutional interest and exposure to
Meanwhile, MoneyGram said Wednesday customers will be able to purchase bitcoin with cash from its thousands of physical locations, and PayPal started allowing US consumers to use their cryptocurrency holdings to pay at millions of its online merchants.
The "crypto-curious" group comprises 63% of American adults and has the potential to disrupt the profile of the so-called average crypto holder, said Gemini. Its study showed women account for 53% of people interested in getting into crypto soon.
"The next wave of crypto buyers is also likely to be slightly older than current holders -- with an average age of 44," and are likely to have slightly less money to invest than current crypto holders. Gemini said its data show that the "average" cryptocurrency owner is a 38-year-old male who makes roughly $111,000 a year.
For a more in-depth discussion, come on over to Business Insider Cryptosphere — a forum where users can deep dive into all things crypto, engage in interesting discussions and stay ahead of the curve.
Investments in crypto hit a new record of $17 billion, but Indian funds are yet to jump on the bandwagon
Chiacoin claims to be an eco-friendly cryptocurrency — here's how it works
Is a ban on cryptocurrencies even possible?
Even as Latin America embraces Bitcoin, Southeast Asia is clamping down on cryptocurrencies
Popular on BI
- A 'hole' 30 times Earth's size has spread across the sun, blasting solar winds that'll hit our planet by end of this week
- Five planets will stage a rare spectacular event in the night sky on March 28
- Finland is offering free vacations for people to come and learn how to be happy after being named the happiest country in the world
- Torrent Investments not to participate in 2nd auction for Reliance Capital; Hinduja sole bidder
- Climate change threatening tea sector globally: ITA
- Over 23,000 techies lose jobs in nearly 82 Indian startups to date
- Scientists create car parts from lemons, corn, almonds and pomegranates that are better than traditional parts
- Cabinet clears dearness allowance hike by 4%