Bitcoin image problem as US investors play it safe

Brazil is leading the charge in the Latin American region with the most FinTech startups, but expansion into neighbouring countries has been painfully slow.

Only 2% of US investors own Bitcoin, but 26% are intrigued by it, according to a Wells Fargo/Gallup poll of 1,921 Americans with $10,000 or more invested in stocks, bonds or mutual funds, either within or outside a retirement savings account.

29% said they knew something about digital currencies. 67% were aware of them but didn’t know much about this area, while 5% had not heard of them. The bigger constraint on Bitcoin sales is likely the widespread perception that trading in the currency is not safe. Three in four investors who have heard of online currencies consider Bitcoin a “very risky” investment.

Security over growth

Gallup comments: “Bitcoin’s image as a risky investment may be irresistible to those with the financial means and temperament to assume market-type risks. But as Wells Fargo/Gallup surveys have found in the past, most US investors prefer to play it safe with their investments, opting for security over growth. Looking to the future, however, many younger investors who currently say they are intrigued may be converted to investors once the currency goes more mainstream.”

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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