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There has been a massive increase in the number of investors who claim to prefer investing in crypto than to invest in stocks. In fact, recent statistics show a whopping 140% increase in only 5 months.
In the research recently conducted by consumer data aggregator CivicScience, data shows that more and more investors are selling their stock shares to purchase cryptocurrency instead.
This research was conducted in the US in 2021. With the questionnaire filled by the US citizen of ages above 18 years. The results received from this questionnaire were aggregated by the U.S. census data. To ensure a holistic research, every question of the questionnaire was compulsorily filled by at least 1000 respondents to as much as 40,600 people.
Back in the month of June 2021, only 10% of people surveyed said they would most likely quit stock investing to invest in cryptocurrency. But that number rose to 24% as of November. A tremendous 140% increase. In fact, a 140% increase in the number of people biased towards crypto investing rather than stocks is found only in about 3700 of the people surveyed.
As a matter of fact, more of the respondents who said they follow the financial market or economy so closely or at least quite closely said they would switch their investments from stocks to crypto.
Within a number of about 1285 who said they follow the financial market so closely, a high 40% of them said they or someone close to them have sold their stocks and purchased crypto instead.
For those who claimed to be following the financial markets quite closely, the percentage who said they’ve sold their stocks to buy crypto reduces to 30%.
This percentage further reduced for those who said they do not follow the financial market closely at all. The percentage for these people stood at 17%. Suggesting that the more the knowledge of the financial market and awareness of the economy people said they had, the more they switched to crypto investing from stocks.
Out of the people surveyed, 1,988 had sold their stock to purchase crypto. 44% of these people who have sold their stock claimed to have sold only less than 10% of their investments.
Yet, about 20% of these same people said they had sold more than 50% of their stocks, and bought crypto in replacement. Zack Butovich from CivicScience has described it as a “shockingly significant number.” That view might further help the increase of this move. Certainly it’s a notable change.
As found on its website, CivicScience sources gets its data through partnerships established with digital and mobile platforms. More information on the methodology employed by CivicScience to be found in near future.
As also discovered by CivicScience, those who claim to be interested in Blockchain tech are on a decline. As of May 2021, 80% of people surveyed were interested in Blockchain tech. That has now reduced so considerably to 68% in early December same year. 40,571 respondents were surveyed.
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