Even after so much crypto-technology adoption taking place around the world, the U.S. regulators still think that their people do not need cryptocurrency. However, the research surveys conducted and the data collected against them tell an entirely different story.
From the data collected from the surveys, it is apparent that the Coronavirus Pandemic has played a huge role in the Americans investing in Bitcoin (BTC). It has been made clear that the pandemic had a huge input in affecting the investments of the bitcoin-buying community in the United States.
Just recently, a digital investment firm, Grayscale conducted a survey related to Bitcoin (BTC) investments in the United States. The data that the firm revealed tells an entirely different story than what the American Government currently believes in.
The survey was conducted among 1,000 investors based in the United States between the ages of 25 and 64. The survey was conducted between the 26th of June and the 12th of July. As per the survey results, around 63% of the investors investing in Bitcoin (BTC) and other crypto-assets had the same feedback.
These 63% of investors stated that the reason they invested in Bitcoin (BTC) and other cryptocurrencies was because they saw no other viable options of investing and making quick money during the COVID-19 situation.
On top of that, around forty percent of investors confirmed that it was due to the Pandemic that the Bitcoin (BTC) became more appealing. There were only thirteen percent of investors who stated that Bitcoin’s (BTC) prices had taken a fall due to the pandemic.
The Grayscale digital investment firm also backed their stats quoting similar results from JPMorgan. The firm stated that JPMorgan had also conducted a similar kind of survey in August of this year. As per their stats, it was around the same number of investors who held the same opinion about the cryptocurrencies.
JPMorgan confirmed that during the COVID-19 situation, the majority of the youngsters showed interest in investing in Bitcoin (BTC). As a result, a lot of liquidity was deployed for the Bitcoin (BTC) during the pandemic.