According to one survey, 41% (or 46.5 million) of Americans who have never purchased cryptocurrency will likely do so in the next year. More precisely, 14% stated they were “very likely,” and 27% claimed they were “somewhat likely” to invest in crypto.
If we compare the numbers with the 2021 data, we’ll notice a big difference. Namely, back then, a mere 3% were “very likely” to buy crypto next year, and 20% were “somewhat likely” to do the same.
On the other hand, when it comes to investors, the survey also tells us that 53% bought cryptocurrency as a speculative investment. That’s 14% less compared to 2021.
The second most frequent reason why people bought crypto was “for fun or as a hobby” (40%), whereas 32% did it because they believed crypto would “replace standard currencies.” Another 29% did it to get NFTs i.e., to buy something from the metaverse.
The most common reason Americans were against buying crypto was that they considered it a bad investment (24%). Interestingly, 17% stayed away from investing in crypto because they “didn’t know what to do with it.”
That said, more than half of respondents (52%) would consider adding crypto to their retirement plans, such as 403b or Roth IRA.
However, most large retirement plan providers do not offer cryptocurrencies, with the exception of Fidelity.
On that note, if crypto could be stored in their main bank account, 54% of Americans who have never invested in cryptocurrency would do so.