Bitcoin (BTC), Ethereum (ETH) or Litecoin (LTC) are not popular among US citizens, as 48% of them are not familiar with digital coins, according to the AICPA research conducted by Harris Poll. Among the 42% that have some degree of knowledge, around 24% said that cryptos would rise in value, 29% thought that the coins would fall, 35% predicted wild fluctuations and only 12% believed that Bitcoin and the altcoins would remain stable in the next year.
The poll revealed that only 35% of US citizens are investing or have such plans for the next year with only 5% saying that they would give their money for cryptocurrencies.
The crypto unpopularity looks rather strange as one of the main conclusions of the report was that 48% saw the volatility as a chance for making money.
“Investing is not a get-rich-quick scheme and trying to time a volatile market with hopes for huge gains is a serious financial risk,” Greg Anton, chairman of the AICPA’s National CPA Financial Literacy Commission said. “Many people who enter the market looking for a quick buck find they can’t handle watching their investment lose value, which leads them to sell at a loss. For most people, seeking incremental gains over a longer time horizon is a safer, more sustainable approach.”
Millennials (aged 20-37) and Gen Xers (aged 38-53) are the two groups that showed interest in high-volatility investments, the report noted.
The AICPA survey was conducted in April among 1,014 US adults.
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