Why do Crypto-Related Surveys in the U.S. Paint Different Pictures?

Source: iStock/BrianAJackson

Several different surveys, the results of which have come out since last year, have shown mixed feelings when it comes to how American’s view cryptocurrency – while some surveys suggest more positive results, others paint a bleak picture. Where does the discrepancy come from? As various surveys are addressing various questions, we have focused on one point within all: willingness to invest in crypto.

On of the most recent surveys says that crypto is the least popular asset to invest long term. According to a nationwide survey by consumer financial services company Bankrate from June 2019, real estate is American’s favorite long-term investment, with 31% naming it the one thing they’d invest the money they wouldn’t need for more than 10 years in (36% of them Millennials). While 20% chose stocks and 11% gold and other precious metals, only 4% picked bitcoin/cryptocurrency option, one percentage point less than the option of “none”, putting it at the very end of the list.

Still, the survey conducted by market and survey research firm SSRS for Bankrate (fieldwork and via phone), which included 1,015 respondents, concludes that many in the younger generations prefer bitcoin and other cryptocurrencies, or to be more precise: millennials chose cryptocurrencies “as their top long-term investment about 9% of the time – about triple the rate of Generation X”, while there were “negligible numbers of respondents” that picked crypto as their top choice in the earlier generations.

Meanwhile, the latest Coinbase report found that there is a growing interest in crypto on a state-by-state level – “Bitcoin is going mainstream in America”, it says. Coinbase used data from public sources, research data derived from anonymizes an aggregated Coinbase user activity, and from research conducted on behalf of Coinbase by market research and data analytics firm YouGov, which conducted their study in December 2018 and included…

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