Should I keep investing in Bitcoin?
Bitcoin will be invested again in 2021, according to a Blockpit survey
The crypto currency Bitcoin has experienced a real high in the recent past. The BTC / USD exchange rate is currently around 19,000 dollars - just a short distance from the all-time high of almost 20,000 dollars at the end of 2017. After this all-time high, there was a known price slump, and various market observers are now warning of a speculative bubble again.
Because more and more large investors have now discovered crypto investments - and thus above all Bitcoin - for themselves and are increasingly evaluating this as a digital replacement for gold. At the same time, however, critics note, among other things, that Bitcoin - in contrast to stocks, for example - is not based on any fundamental values. There are also fears that the history of the previous course crash could repeat itself. In contrast, there is a survey by Blockpit, a domestic provider of proof of origin and the taxation of cryptocurrencies: Here, the 503 respondents stated that they want to invest in Bitcoin again in 2021.
There will be investments in Bitcoin again in 2021
When asked whether the participants want to continue investing in cryptocurrencies in the coming year, 96.2% answered “yes”. 76.6% see “the future of finances” in crypto currencies and also believe that Bitcoin will continue to dominate (74.5%).
"The current price jump is definitely based on the numerous developments in recent years when it comes to regulation and increasing acceptance among the population," says Florian Wimmer, managing director and founder of Blockpit: "The current rally is primarily driven by institutional investors, for which the gates to the crypto market have now been opened. Our survey results confirm this positive development. "
Investors believe that the price will rise again in 2021
A majority of 90.6% also agreed that the crypto market will continue to grow in 2021. As a result, 66.3% of the survey participants plan to increase the total share of cryptoassets in their portfolios. In addition to the strong share of investments in Bitcoin (79.1%) or Altcoins (74.1%), classic investment products such as stocks (38%) were also considered interesting for 2021. Only a very small proportion see real estate (15.6%) and precious metals (5%) as a lucrative investment.
Investors see the "future of finance" ...
As reasons for investing in cryptoassets, 76.1% stated that they see the "future of finances" here. 62.2% are interested in the technology and 42.3% see Bitcoin as "digital gold".
... and would invest more if they had more money
The majority also expressed the desire to improve taxation (82.5%), public acceptance (74.1%) and regulation (66.0%) of cryptocurrencies as an incentive for further investments. In an open-ended question, 9% of respondents independently stated that they would invest even more in crypto if only they had more money.
Most have been investing since the previous Bitcoin hype
The majority of investors (51.7%) have been investing in Bitcoin since 2017 or 2018. Significantly fewer began to do so between 2009 and 2016 (27.8%) or after 2018 (20.8%).
Contrary to the prejudices, 56.6% of the 500 or so respondents said they wanted to keep the crypto currency in their portfolio for more than a year and 29.2% only reported a few trades per year. According to this survey, it is often a question of longer-term investments and less of day trading gambling.
Another result of the study says that the share of cryptocurrencies in total investments is either rather low or very high: 22.7% stated that they only have up to 10% cryptocurrencies in their overall portfolio, while 34.0% with over 50% of the portfolio are invested in crypto. Overall, 68.2% of respondents report investing up to 30% of their total net income in financial products.
The survey was carried out at the beginning of November among 503 customers of the crypto service provider www.blockpit.io, all of them owners of crypto currencies. Men were strongly overrepresented at 93% and stated their average age as 39 years (women: 41 years).
Around half of the participants have at least a bachelor's (18.5%), master's (27.8%) or doctoral (3.6%) degree from a university. According to the survey, only 20% of those questioned have more than € 65,000 net per year. The majority say they can get by on up to € 45,000 net annually in their household. Almost 60% are employed and 20.5% stated that they were self-employed.
Disclaimer:This text as well as the notes and information do not constitute tax advice, investment advice or a recommendation to buy or sell securities. They are for personal information only and only reflect the opinion of the author. No recommendation is made for a specific investment strategy. The contents of derbrutkasten.com are aimed exclusively at natural persons.
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