Revealed: The Typical Bitcoin Investor

When you think of the typical Bitcoin investor, who comes to mind? If it’s a young, wealthy male, you’re correct.

 

According to a CNN Business report, Clovr, a company that works to promote the adoption of blockchain technologies, conducted one of the first comprehensive studies of cryptocurrency owners. A survey of more than 1,000 Americans revealed that “true Bitcoin fans” are millennial men living in urban areas and earning more than $75,000 annually.

 

CNN Business observes that “true cryptocurrency evangelists” will be disappointed by these results, which seem to reflect that the reason for investment in Bitcoin is the chance for a large return rather than the belief that it and other cryptocurrencies are the future of money. Says CNN:

 

“In other words, people view Bitcoin much like Internet stocks in the late 1990s or marijuana stocks today: a highly speculative investment.”

 

Clovr co-founder Mike Cribari believes that in order for there to be a broader acceptance and investment into cryptocurrencies, their use must be more mainstream, like for buying lunch.

 

This may happen, adds CNN, as Starbucks, Microsoft and Intercontinental Exchange have launched Bakkt, which enables the conversion of cryptocurrencies to dollars.