New Study: Majority Plan To Buy Bitcoin In The Next Three Months

New Study: Majority Plan To Buy Bitcoin In The Next Three Months

February 17, 2021

SurveyMonkey released a study of more than 1,500 adults looking at their plans around the rising Bitcoin and Dogecoin trends. The findings show that while a majority plan to buy more crypto in the next three months, Bitcoin owners don’t see it as currency worthy of purchasing goods/services, such as Tesla, who just announced they’ll start accepting Bitcoin.

Other key findings include:

  • Investment, not currency: Most who’ve heard of Bitcoin (53%) say it’s not likely to become a common currency accepted as payment within the next five years.

  • Over time: Bitcoin ownership has doubled from three years ago, when just 4% of adults owned Bitcoin. More people would invest in Bitcoin today over U.S. stocks, international stocks, real estate, and a savings account, if they had an extra $1000 to invest (up from 7% in 2018 to 11% now). 

  • Infrequent trading: 36% say they’ve only bought or sold Bitcoin one time, 13% typically do so annually, 26% monthly, 18% weekly, and just 5% daily

  • Tesla’s impact: While 71% of investors say Tesla’s announcement didn’t change their plans to buy or sell Bitcoin, 61% of Bitcoin owners say they are more likely to buy now

  • Dogecoin takes second place: 81% of people have heard about Bitcoin, just 21% have heard of Dogecoin, 15% about Ethereum, 12% about Litecoin, and 8% about Ripple. 

Click here to view the full report.

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