A study by asset management firm Grayscale Investments showed that about half of all American investors are now interested in Bitcoin. As revealed in the study, Bitcoin investors in the U.S. have increased to 32 million. This is an addition of 11 million to the 21 million investors recorded last year.
Since January, Bitcoin has been surging steadily and has gained more global recognition. The Grayscale Investments report titled “Bitcoin Investor Study” explained:
“In 2020, more than half (55%) of survey respondents expressed interest in Bitcoin investment products. This marks a significant increase from the 36% of investors who said they were interested in 2019.”
Over the past year, 83% of investors that showed interest in Bitcoin have invested in the crypto giant.
As stated in the report, the consistent rise in Bitcoin investors can be tied to the ongoing health crisis. The coronavirus pandemic affected the global economy, forcing many companies out of business. Many organizations are still rebounding from the negative effect of the virus.
On the other hand, Bitcoin had a quick recovery in March and has been rising significantly rising since then. Currently, Bitcoin is trading at $13,119.64.
Apart from individual investors, several institutional investors are also investing in Bitcoin. In August, business intelligence company MicroStrategy acquired BTC, declaring the cryptocurrency as the company’s primary treasury reserve asset.
Image Credits: Pixabay
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