Nearly 50% of US Consumers Think it’s Now “Safe” to Invest in Bitcoin (BTC) and Other Cryptocurrencies: Survey

Piplsay research reveals that 27% of US consumers are planning to make investments in cryptocurrency during 2021. Around 50% of Americans think that it’s now “safe” to invest in decentralized digital currencies, the survey revealed.

About 57% of US-based consumers said they think major brands should begin taking crypto payments, according to the survey results.

Bitcoin has been on a tear lately, sending almost everyone from traditional companies to individual investors “scurrying for a slice of the crypto pie,” Piplsay researchers noted. The Bitcoin craze has become so wild that even US government officials are showing their strong support for this movement in the most unexpected or surprising ways.

Piplsay also mentioned that their new report looks into the growing public interest and understanding of this nascent asset class and concept of transacting in digital currency. Crypto wallet providers may want to consider leveraging this data in their decision-making, the company suggests.

Elon Musk’s Tesla has managed to create quite the buzz recently when it acquired $1.5 billion of Bitcoin while confirming it would accept it as a form of payment in the foreseeable future. Elon Musk, the world’s wealthiest person, has also been commenting frequently (mostly jokes) on Dogecoin, a meme-inspired crypto.

Musk’s comments have led to a dramatic increase in the Dogecoin (DOGE) price. From being seen only as mostly a speculative investment to becoming a legitimate payment method for online purchases, cryptocurrency appears to be finally gaining mainstream acceptance. This can be seen by “all the renewed interest and discussions,” Piplsay confirmed.

The researchers also questioned that amid all this buzz, what do US consumers think about the concept of virtual currencies? Piplsay reports that it surveyed 30,330 individuals nationwide to obtain some insights.

Some of the notable findings shared by the researchers are as follows:

  • 38% Millennials say they understand cryptocurrency “as compared to 33% of Gen Xers and 29% of Gen Zers”;
  • 42% of Millennials “think cryptocurrency is safe as compared to 34% of Gen Xers and 24% of Gen Zers”;
  • About 32% of Millennials and Gen Zers each and 29% of Gen Xers “plan to invest in cryptocurrency this year’;

Survey Methodology 

This Piplsay survey (powered by Market Cube) was performed nationwide in the United States from February 15-16, 2021. The company reportedly received 30,330 online responses from people who were at least 18 years old.

Piplsay research reports “reflect independent opinions of respondents and are not sponsored by any organization or individual,” the company claims. The survey questionnaires are “based on key consumer trends.”

(Note: you may check out the detailed survey results here.)

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