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Thursday, November 16, 2017

Survey results: WHO are cryptocurrency investors, why are we here, and how long will we stay?


A thank you from Mike Brown of Lend EDU for contacting us the results of a survey their organization recently conducted and allowing us to share the results with our readers.

The survey pool was made up of 546, US based Bitcoin investors.

1. Which of the following best describes the reason you invested in Bitcoin?

a. 21.81% of respondents answered "Bitcoin is a long term store of value, like gold or silver."
b. 40.78% of respondents answered "I believe Bitcoin is a world changing technology."
c. 14.01% of respondents answered "I believe that the price of Bitcoin is too low, and will only go higher."
d. 15.25% of respondents answered "A friend, family member, or another trustworthy source convinced me to invest."
e. 8.16% of respondents answered "I plan on using Bitcoin for transactions or purchases, and less of an investment."

2. What is the current value ($) of your Bitcoin investment?

On average, respondents reported that the current value of their Bitcoin investment was $2,930.85. At the time of the survey completion, the price per Bitcoin was $6,490.

3. How long do you plan to hold your Bitcoin investment?

a. 16.49% of respondents answered "Less than 1 year"
b. 39.54% of respondents answered "1 to 3 years"
c. 22.34% of respondents answered "4 to 6 years"
d. 9.93% of respondents answered "7 to 10 years"
e. 11.70% of respondents answered "Over 10 years"

4. Do you routinely worry about the technological security of your Bitcoin investment?

a. 44.15% of respondents answered "Yes"
b. 55.85% of respondents answered "No"​

5. The price of Bitcoin is currently near all-time highs. Have you sold some or all of your Bitcoin investment since investing?

a. 32.62% of respondents answered "Yes"
b. 67.38% of respondents answered "No"​

6. Did you, or do you, plan on reporting your transactions(s) on your tax return as either a loss or a gain?

a. 64.13% of respondents answered "Yes, I plan on reporting gain or loss on my tax return"
b. 35.87% of respondents answered "No, I do not plan on reporting gain or loss on my tax return"

7. At what price per Bitcoin would you be willing to sell all of your Bitcoin investment?

On average, respondents reported that they would be willing to sell all of their Bitcoin investment at $196,165.79 per Bitcoin. At the time of the survey completion, the price per Bitcoin was $6,490.

CHARTS:
Why did they invest in Bitcoin?



How long are they planning to hold on to their Bitcoin?


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Author: Ross Davis
San Francisco News Desk