There has been a huge increase in investors preferring cryptocurrencies to stocks, reveals a new survey

There has been a huge increase in investors preferring cryptocurrencies to stocks, reveals a new survey

New research by consumer data aggregator CivicScience has found that a growing number of investors are selling their shares to buy more cryptocurrencies.

Research questions were sent to people 18 and older in the United States at different times during 2021. The results were weighted by data from the United States census. Each question had between 1,000 and 40,600 respondents.

Of the 3,700 respondents, the number of people who said they were more likely to invest their money in cryptocurrencies than traditional stocks increased 140% in just five months.

In June, only 10% of respondents said they were more likely to invest their money in cryptocurrencies than traditional stocks, a figure that rose to 24% in November.

Interesting that those who said they follow the financial market and the economy “very closely” or “somewhat closely” were more likely to exchange their traditional assets for cryptocurrencies.

Of the 1,285 respondents who said they follow the market “very closely,” 40% said that they or someone they know has sold their traditional stocks to buy cryptocurrencies..

This percentage was reduced to 30% for those who follow the market “somewhat closely”, and about 17% for those who said they did not follow the market “closely at all”.

There has been a huge increase in investors preferring cryptocurrencies to stocks, reveals a new survey

About 44% of the 1,988 respondents who had sold stocks for cryptocurrency said they had sold less than 10% of their portfolios.

But about a fifth had sold more than half of their stock assets to buy cryptocurrencies, which Zack Butovich of CivicScience described as a “shockingly significant number.” It may be over the top, but it is certainly remarkable.

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There has been a huge increase in investors preferring cryptocurrencies to stocks, reveals a new survey

According to its website, CivicScience obtains its data through digital and mobile content partnerships.. Cointelegraph contacted CivicScience for more details on their methodology, and is awaiting a response.

CivicScience also found that Those not interested in blockchain technology have continued to decline, from 80% in May this year to 68% today based on 40,571 responses from May 1 to December 6..

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