A survey by Unchained found that 55% of US investors, aged between 18 and 78, own Bitcoin.
Financial services platform Unchained surveyed 402 US investors to find out their preferences regarding Bitcoin, the world's most powerful cryptocurrency.
The survey found that more than half of investors in the country own Bitcoin and plan to invest more in the cryptocurrency in 2024.
The main reasons that US investors pointed out for increase their Bitcoin holdings, were the regulatory clarity and possible approval of a Bitcoin Spot ETF in the country.
According to the survey conducted by the platform, 95% of investors who identified themselves as Bitcoin holders plan to increase their holdings of the cryptocurrency next year.
US investors prepare to buy more Bitcoin
US investors are gearing up to buy more Bitcoin in 2024 amid increased regulatory clarity in the country and potential SEC approval of a Bitcoin exchange-traded fund.
According to the results of the survey of US investors, 42% of current cryptocurrency holders believe that increased regulatory clarity around Bitcoin and digital assets is the most likely factor in increasing their BTC holdings.
On the other hand, 29% of US investors believe that the SEC's approval of a Bitcoin spot ETF will be the decisive factor that drives them to invest more in Bitcoin.
18% of investors surveyed said that the anticipation of an economic recession in the United States will motivate them to invest in cryptocurrency next year.
Bitcoin will continue to be the best performing asset
Since the beginning of this year, Bitcoin has been positioned as the best-performing asset of 2023, ahead of S&P 500 and Nasdaq stocks. Analysts at investment bank Goldman Sachs said in April that Bitcoin had had the best annual performance in the last 5 and 10 year periods, respectively.
Now, a large part of American investors believe that Bitcoin will remain the best performing investment asset in 2024.
The survey conducted by Unchained found that 34% of US investors consider that Bitcoin's performance will outperform that of gold and stocks in the next year, while 79% of investors believe the cryptocurrency's price will hit a new all-time high above $69.000.
Americans will lead Bitcoin investment
Nearly half of US investors who do not currently own Bitcoin are considering investing in the cryptocurrency in 2024, the platform noted.
According to Unchained, regulatory clarity in the cryptocurrency industry, the potential approval of the Bitcoin ETF by the SEC, and the economic downturn are key factors that will boost Bitcoin investment in the country. However, the platform also noted that Financial advisors play a crucial role in the decisions made by American investors regarding Bitcoin and cryptocurrencies.
The survey found that 26% of investors are planning to invest in BTC, considering the recommendation of their financial advisors or a trusted source in the market.
On the other hand, 79% of investors who identify themselves as Bitcoin holders revealed that they invest in the cryptocurrency through their retirement accounts, while 23% of investors who do not own Bitcoin expect to access the market-leading cryptocurrency through these plans, such as a 401(k), IRA or other. An additional 9% are considering adding Bitcoin to their retirement accounts, the survey noted.
Unchained concluded its earnings report by highlighting that there is an increasing influx of US investors who understand Bitcoin as an investment asset that has longevity, and are therefore increasingly interested and eager to gain exposure to the cryptocurrency.
The applied survey, entitled “US Investor Outlook for BTC in 2024"The survey was conducted between October 26 and 28 of this year with 402 permanent residents of the United States, who were taken as a representative sample of the population of investors in the country, which exceeds 158 million people.
Continue reading: Bitcoin closes November with an upward trend, exceeding $38.000
