More than 1 in 10 Americans have invested in crypto this year, here’s how they differ from stock investors

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The stock market has more diverse offerings than the crypto market, but the reverse is true when it comes to who invests in it.

Some 13% of Americans have bought or sold a cryptocurrency such as bitcoin, ether or dogecoin in the past year, according to a report based on a survey of more than 1,000 people released by researchers on Thursday. from the University of Chicago.

Of those investors, about 41% are women, 44% are people of color, 35% earn less than $ 60,000 a year, and 45% have a college education, according to the survey conducted between June 24 and June 28. June.

Meanwhile, some 24% of Americans bought or sold stocks during the same one-year period. Of these investors, 38% are women, 35% are people of color, 27% earn less than $ 60,000 per year, and 51% have a university education.

Crypto investors are also younger than stock market investors. The average age of a crypto investor is 38, compared to 47 for stock market investors.

Cryptocurrencies open up investment opportunities for more diverse investors, which is a very good thing, said Angela Fontes, vice chair of the economics, justice and society department at the National Opinion Research Center at the University of Chicago. .

It will be important that these investors have access to reliable information when making decisions related to these often more volatile investments, she added.

“The average age of a crypto investor is 38, compared to 47 for stock investors. ”

Case in point: Over the past month, bitcoin BTCUSD, +1.41%, the most traded cryptocurrency, has fallen from over $ 36,000 to less than $ 30,000, a variation of around 20% . Two months ago, bitcoin was hovering around $ 60,000. As the Dow Jones Industrial Average DJIA, + 0.20% went from a one-month high of nearly 35,000 to a one-month low of nearly 34,000, a change of about 3 %.

(Crypto and stocks aren’t correlated, but sometimes strategists view assets as measures of risk appetite on Wall Street.)

Crypto Is Trading Lower As Investors Growing Concern Over The Spread Of The Delta Variant Of COVID-19 And Growing Tensions Between China And The United States On top of that, the Chinese government continues to crack down against crypto trading. In May, it banned banks and other third-party financiers from offering it to their customers.

Recently, cryptocurrency prices have skyrocketed and fallen, and speculative cryptocurrency trading has rebounded, severely undermining the security of people’s property and disrupting the normal economic and financial order, three said. branches of Chinese financial regulation in a joint statement obtained by Reuters.

Most crypto investors rely on the information they read on crypto trading platforms like Coinbase COIN, -1.17%, general trading platforms like Fidelity FIS, + 0.16% or Robinhood and on social networks. According to the University of Chicago report, only 2% of crypto investors receive advice from a broker or financial advisor.

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