Who owns and trades bitcoin? Young, relatively well-off men living in big cities.
Most people know what bitcoin and cryptocurrencies are and feel comfortable explaining them to others. But the true bitcoin fans are Millennial men earning more than $75,000 a year in urban areas, according to a recent survey of more than 1,000 Americans.
The survey was conducted by Clovr, a company focused on promoting the mainstream adoption of blockchain technologies — the digital ledgers that record bitcoin transactions. It is one of the first comprehensive studies of who owns cryptocurrencies.
It may not be a huge surprise to learn that the biggest bitcoin evangelists are young men…
More average investors are getting comfortable with the thought of using bitcoin for everyday purchases and owning bitcoin for the long haul, a separate survey found. More than half of the Millennials and more than a third of the Gen Xers polled said they thought cryptocurrencies would become as widely accepted as cash and credit cards, according to BitcoinIRA.com, which lets people buy bitcoins and other cryptocurrencies for their retirement accounts.
Nearly 30% of the Baby Boomers surveyed indicated that they would consider investing in bitcoin or other cryptocurrencies for their retirement.