Is this the end of Bitcoin?
That's what crypto fans everywhere wondered this week as the currency fell below $10,000 for the first time since December 1. Experts bounce between thinking Bitcoin is the next big thing and calling it a bubble, but one thing is for sure: Buying into cryptocurrency is a risky but (potentially) exciting move for younger investors.
To find out exactly how excited investors are feeling about cryptocurrencies, we commissioned a survey of 2,033 Americans, conducted online by Harris Poll January 16-18, 2018. The survey gauged people’s thinking amid the height of speculation around Bitcoin and whether its investors are in trouble.
If someone gave you $5,000 today to invest in one type of investment, which of the following would you put the money into?
We found that:
- 12% of all Millennials aged 18-34 would put their $5,000 investment for the future into cryptocurrency over any other type of investment, compared to just 3% of those aged 45-54 and 55-64
- The same number (12%) would choose to put their money in a retirement account, such as an IRA
- 14% of Millennial men would choose cryptocurrency over any other investment
- 9% of Millennial women would choose cryptocurrency over any other investment
The other options we presented to respondents included: a liquid account such as a savings account, traditional investments such as ETFs and mutual funds, real estate, or a retirement account.
This finding provides a sneak peek into the upcoming March release of Swell Investing’s latest “Money Meets Morals” survey which focuses on how our work lives are evolving and how that shapes the future of money.
This survey was conducted online within the United States by Harris Poll on behalf of Swell Investing from January 16-18, 2018 among 2,033 U.S. adults ages 18 and older. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact Natalie Rix at [email protected]