The fall in the cryptocurrency market is proving to be a difficult storm to weather for both investors and companies in the sector. Nevertheless, According to new data, this hasn’t stopped women from being bullish on cryptocurrencies.
A new survey conducted by BlockFi, a cryptocurrency trading and investment platform, asked women across the United States about their opinion and involvement in the cryptocurrency industry between September 2021 and March 2022.
According to the findings, one in 10 women chose cryptocurrencies as their first investment, of which 17% are female Millennial investors and 11% are Generation Z. The findings even revealed that of the women surveyed, 7% of Generation X, which includes individuals born between 1965 and 1980, reported that cryptocurrencies were their first investment.
However, as previous data has revealed, more education and clarity around the space is needed for investors to feel safe and confident in their investments.
The survey revealed that although an overwhelming majority of women surveyed (81%) have heard of cryptocurrencies, 77% still consider it a risky investment.
Flori Marquez, founder and COO of BlockFi, echoed the idea that education is key to attracting more women to this space:
“Knowledge drives empowerment and confidence.”
Despite barriers, both market and educational, many women continue to see a place for themselves in the industry. More than one in five (22%) said they intend to buy cryptocurrencies in the next year. 20% of Gen Z women rated Bitcoin as the “best long-term investment” among other investment options.
BlockFi survey data showed that women are indeed here to hodl, with 69% of female crypto owners saying they hold crypto and remain just holders.
Marquez said that the current cryptocurrency market downturn is the perfect time to tap into these communities of female cryptocurrency owners.
“The best construction happens during bear markets. It is imperative that we use this time to build products and communities that are inclusive of all investors.”
Back in May of this year, billionaire Tim Draper insisted that the next bull market will be driven by the adoption of female investors.
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