Top 3 reasons why investors own cryptocurrencies
Most individuals believe crypto is a good investment People are attracted to new technology Lack of trust in authorities turned people to crypto The crypto currency market’s popularity rose exponentially in the last decade or so. The difference is stunning if one looks at the market capitalization of the entire industry today and compares it with, say, ten years ago. So, knowing what drives people to invest in cryptocurrencies is interesting. Guess no more. A study by the Federal Reserve, called Federal Reserve’s 2022 Diary of Consumer Payment Choice, sheds light on this topic. So here are the main three reasons why investors hold crypto: Great potential investment People are interested in new technologies Some do not trust the US government or the US dollar Most individuals own crypto as an investment The overwhelming majority of individual investors own cryptocurrencies because they believe it is a good investment. More precisely, 67% ...