In brief
Investor demographics
The rise of social media
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
$104,324.00
0.50%$2,549.57
2.63%$2.41
1.97%$661.18
0.72%$174.91
0.90%$0.999978
0.00%$0.242625
4.86%$0.82169
3.74%$0.265628
1.76%$2,549.68
2.48%$4.16
5.22%$104,244.00
0.28%$17.34
5.25%$1.50
60.99%$25.55
4.09%$3,053.45
1.80%$0.00001662
5.42%$0.311167
2.66%$0.21374
4.20%$3.48
3.90%$24.75
2.77%$411.07
-0.12%$5.22
4.30%$8.40
1.46%$102.18
1.62%$0.999946
-0.00%$2,552.73
2.89%$347.81
8.05%$0.00001481
15.31%$2,719.87
2.38%$4.90
2.00%$1.001
0.21%$104,331.00
0.40%$1.00
0.00%$30.27
0.24%$7.11
0.94%$463.91
3.53%$3.21
0.89%$6.00
2.27%$1.077
5.08%$0.129347
22.81%$222.42
1.54%$55.37
-0.60%$5.98
7.72%$20.28
2.90%$1.00
0.00%$0.101358
2.32%$14.13
3.89%$0.03247863
5.99%$5.32
3.59%$0.818599
5.61%$34.33
-0.80%$21.99
-0.42%$1.051
0.01%$0.415492
5.46%$5.35
3.30%$0.264496
1.76%$0.88556
4.38%$0.463368
0.43%$3.22
3.07%$1.001
0.11%$104,149.00
0.42%$0.244881
1.99%$1.17
-0.00%$3.26
3.76%$0.603769
3.16%$4.36
-0.01%$0.00002429
11.27%$1.29
2.13%$0.57289
4.51%$4.59
0.84%$2,551.56
3.04%$1.011
1.83%$1,837.39
2.30%$1.00
0.17%$100.20
3.63%$0.875334
1.03%$2,659.27
2.52%$0.942562
3.64%$184.03
0.96%$11.31
0.98%$1.37
6.29%$0.268831
3.81%$2.06
8.39%$13.74
7.29%$0.738708
3.01%$4.81
3.84%$0.01987561
-1.13%$1.28
1.42%$1.24
41.67%$0.076257
0.01%$2,889.49
2.83%$0.1214
2.69%$0.00011849
15.63%$104,149.00
0.27%$1.00
0.20%$0.789107
2.35%$1.039
3.71%$0.02266527
4.50%$0.02057371
11.18%$1.11
0.85%$661.30
0.98%$2,715.71
2.86%$3.28
4.96%$225.78
0.86%$0.999637
-0.00%$1.001
0.20%$0.01422841
4.55%$0.363315
3.90%$193.53
1.15%$0.870721
4.15%$104,464.00
0.54%$0.671562
9.41%$41.79
0.62%$0.00000083
4.07%$0.083322
1.56%$2,668.21
2.44%$103,614.00
-0.11%$3,233.71
-2.75%$103,171.00
0.04%$23.66
2.05%$2.45
1.66%$1.00
-0.01%$0.260973
7.49%$0.833775
12.15%$13.47
-3.66%$3,238.35
-2.66%$0.127028
3.06%$0.465997
4.27%$3.99
-0.19%$0.728496
-1.11%$0.687154
4.55%$44.17
4.52%$2,666.49
3.00%$2.01
17.92%$0.194524
6.05%$2.12
4.03%$0.369298
1.44%$0.998039
-0.05%$3.96
4.04%$0.9988
0.07%$0.242378
5.30%$0.752736
3.86%$0.517646
3.87%$0.01802116
0.12%$0.01040444
5.53%$1.11
0.11%$0.602768
17.94%$0.18905
6.81%$0.00627632
5.62%$0.228339
1.00%$19.97
3.69%$0.727469
2.44%$0.697498
7.49%$2,549.01
2.43%$8.36
1.63%$111.00
0.00%$2,550.27
2.92%$7.72
11.20%$2,717.20
2.90%$2,655.91
4.98%$0.212291
8.36%$104,261.00
0.49%$0.10194
4.01%$4.30
2.87%$3.18
3.21%$0.467686
-2.22%$0.00002525
3.70%$0.999327
-0.04%$0.999492
0.30%$104,019.00
-0.00%$0.00930802
4.60%$0.105579
5.38%$0.0000012
7.48%$101,949.00
0.19%$0.04873331
2.81%$0.712682
2.85%$0.06525
-0.51%$1.00
0.00%$1.67
6.91%$2,552.51
2.90%$1.82
1.73%$2,546.62
2.04%$48.53
3.49%$1.66
5.11%$0.43665
26.16%$0.264601
1.95%$0.00000043
3.50%$0.163761
1.12%$0.388045
19.37%$0.00613969
6.63%$0.436675
1.92%$1.41
4.09%$1.74
0.62%$1.096
0.00%$1.007
0.44%$104,341.00
1.79%$0.200029
9.16%$0.423531
0.80%$0.880922
3.25%$0.00387824
10.90%$0.38677
7.52%$0.0000702
4.18%$0.00429666
25.28%$0.915277
4.02%$0.00451811
1.54%$0.03795961
2.29%$0.0195052
2.32%$33.98
0.15%$1.002
0.43%$2,702.57
2.26%$141.03
2.17%$0.294195
5.14%$4.31
2.16%$1.00
-0.03%$21.53
0.26%$0.00083893
37.75%$0.03841859
6.86%$2,803.35
2.61%$25.70
4.33%$2,780.86
2.53%$3.03
3.93%$0.742899
1.16%$104,278.00
0.53%$0.238725
2.93%$0.00000161
2.93%$0.558485
1.93%$1.00
0.25%$19.61
6.12%$2,551.49
2.98%$0.00311027
10.83%$0.999276
-0.04%$2,747.94
2.96%$24.87
3.17%$0.999937
-0.03%$0.00
12.65%$1.12
1.13%$1.10
0.10%$25.07
2.91%$2,548.63
2.53%$0.902175
7.24%$0.597843
2.58%$0.731778
4.84%$0.00391808
6.56%$0.272004
-13.07%$0.01489608
3.64%$0.078978
5.35%$0.123803
2.49%Reading
Crypto adoption in the U.S. is picking up, with one in ten people in the country—11% to be precise—investing in cryptocurrency.
According to a poll from CNBC and Momentive (the company previously known as Survey Monkey) published this month, 5,530 respondents cited various reasons for why they decided to invest.
60% of U.S. crypto investors cite the potential for long-term growth as being behind their investment, with 44% looking to the potential for high growth in a short period. A third (33%) were drawn to crypto by the ease of making their own trades, while just over a quarter (26%) were hooked by the excitement of investing.
What’s more, investors were not necessarily influenced by some of the typical narratives surrounding cryptocurrencies.
Less than half of those surveyed (44%) said they didn’t know where Bitcoin would be by the end of 2021. In fact, less than one-fifth (21%) of those surveyed said Bitcoin would finish the year higher than its current price.
In contrast, almost half of respondents (45%) believe cryptocurrency to be a high-risk investment.
The survey also paints a clear picture of the type of person most likely to invest in cryptocurrencies.
Men are more than twice as likely as women (16% compared to 7%) to invest in crypto, a stat that is borne out across all racial and ethnic groups.
Age is also a key component, with older investors viewing the sector as high risk. A total of 29% of investors between the ages of 18-34 believe cryptocurrency is a high risk, whereas almost half (46%) of older respondents—those between the ages of 34-65, believe cryptocurrency is high-risk.
The majority of respondents cited the rise of social media—and technology more broadly—as a factor in their investment behavior.
Over one in ten (12%) of respondents credit social media as the place where they first learned how to invest. However, the rise of social media has predictably had more of an impact on young investors.
Social media platform TikTok has banned influencers from promoting cryptocurrency. The ban, quietly introduced to its content policy this week, restricts what the platform calls “branded content,” or paid advertisements. Branded content is clearly indicated on the short videos users upload to the app, often with the hashtag #ad and a link to the promoted product, like a sign-up link. TikTok also banned influencers from promoting other financial products, such as loans, credit cards, forex tradi...
Only 3% of those aged between 35-64 said social media taught them to invest. Only 1% of those above 65 said the same.
Investment advice on social media has caused controversy in the past. In July of this year, TikTok banned paid cryptocurrency promotions but stopped short of banning unpaid, obscure financial analysts from pumping their favorite coins.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
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