Daily Management Review

Over half of US bitcoin investors enter the market in 2021


Over half of US Bitcoin investors entered the market in 2021, when the cryptocurrency's price rose 70%. 37% see Bitcoin as a short-term investment with which to make "quick money".

Ivan Radic
Ivan Radic
More than half of current Bitcoin investors in the US have entered the market in the past 12 months, according to a survey conducted by cryptocurrency firm Grayscale Investments. 55% of those surveyed said they started investing in Bitcoin this year, while 26% said they had done so earlier.

The proportion of Americans who own Bitcoin rose from 23% in 2020 (when the cryptocurrency was worth less than $30,000) to 26% in 2021, when its price jumped 70% and was "closer to a record $100,000 than zero" in November.

The survey showed that investors are increasingly looking at Bitcoin as a means of savings, with many choosing to hold onto their investments. 77% see Bitcoin as an investment. Among them, 37% see Bitcoin as a short-term investment with which to make "quick money" within a year. 55% see Bitcoin as a long-term investment. 20% of respondents said they need Bitcoin as a currency to pay for goods and services. 

The way cryptocurrency is purchased has changed over the year. In 2020, three-quarters of investors said they were looking to buy Bitcoin through an exchange, but now 60% say they prefer to use a cryptocurrency app, such as eToro or Coinbase.

source: forbes.com