The bitcoin blockchain turned 10 this year (the first “block” was mined on Jan. 3, 2009). The bitcoin white paper turned 11 (published by “Satoshi Nakamoto” on Oct. 31, 2008). And the price of bitcoin is up 84% this year.
But the popular conception is that the cryptocurrency industry is overwhelmingly male. “Why are so few women buying into bitcoin?” asked a World Economic Forum blog post last year.
Grayscale Investments thinks the answer is simple lack of information.
The firm behind the Grayscale Bitcoin Trust (GBTC) and other funds pegged to crypto prices commissioned a study of investor perceptions of bitcoin. Grayscale found that just over a third of U.S. investors are interested in bitcoin (more than 20 million people), and of that interested group, 43% are women.
Given a series of bitcoin’s investment qualities to choose from, women were more likely than men to say that they like the ability to invest in very small amounts (a common misconception is that you must buy one whole bitcoin, currently worth just north of $7,000—that is not the case), the ability to sell at any time (crypto markets never “close” like the U.S. equities markets, you can trade at any hour), and they believe bitcoin is a high-risk, high-reward bet that has the potential for very high returns.
The Grayscale study was conducted by Q8 Research, which surveyed 1,100 U.S. investors (defined as having at least $50,000 in household income and $10,000 in household investable assets), ages 25-64, from March 28 through April 3.
To be sure, being “interested in” investing in bitcoin may not amount to much. Interest does not always lead to action. Many people have passing interest in buying many types of things, but that doesn’t mean they will ever buy them.
Nonetheless, Grayscale sees promise in the survey results.