“I believe Bitcoin is a world-changing technology”- analysis of survey’s results

Kajetan Maćkowiak
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The pollsters from Lendedu surveyed 564 Americans. The study aimed to investigate the environment of cryptocurrencies. They mainly wanted to explore the current acquisition and expectations of Bitcoin’s investments.

First of all, why have people started investing in Bitcoin?

The answers are quite satisfying! Most of the respondents (over 40%)  believe that “Bitcoin is a world-changing technology.”

The second place, with the result of 22% took the conviction of “Bitcoin is a long-term store of value, like gold or silver.” The remaining answers showed the other reasons why people are interested in Bitcoin’s investments – part of them decided to buy, because relatives or friends persuaded them to do it. Secondly, some of them are investing only for a profit and claim that the value of Bitcoin will still increase. The last chosen answer shows that investors believe in Bitcoin’s development. So they are focusing on using such opportunities as transactions or purchasing goods by cryptocurrencies – less on investments.

Furthermore, the respondents asked about their willingness to sell their Bitcoins – most of them consider this investment as a promising. To be more precise, around 40% of respondents are thinking about holding Bitcoin for 1-3 years and over 22% are sure about keeping them for 3- 6 years. Only 16% have a plan to hold the Bitcoin for a less than one year. Besides, the average amount of money which could let them sell it is $196,165.79. It is about thirty times today’s value! For this moment medium value of these answerers’ investments is $2,930.85. Additionally, over 67% hasn’t sold any Bitcoin since they bought them.

To conclude this results, I would say that investors are anticipated for a significant profit. They prefer to wait for the time when Bitcoin will gain satisfying value. Moreover, specialists compared Bitcoin with precious metals – even gold. It can confirm our thesis about the strength of digital and cryptocurrencies technology in future. Societies from centuries have been using precious metals as a form of payment, a source of wealth and last but not least – a way to diversify money. Accordingly, if we envisage this kind of future for Bitcoin, we are even more peaceful than before.

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