As of 2021, it is estimated that around 11% of US citizens own Bitcoin, according to a survey conducted by the Harris Poll on behalf of Blockchain Capital. This means that approximately 28 million people in the United States alone have invested in the world’s leading cryptocurrency.
Bitcoin, created in 2009, is a decentralized digital currency that operates on a peer-to-peer network without the need for intermediaries such as banks or other financial institutions. It has gained popularity as a decentralized currency that is not controlled by any government or central authority, and can be used to make online purchases or transfer funds internationally without the need for currency exchange.
The rise in Bitcoin’s popularity can be attributed to a number of factors, including its limited supply, its use as a store of value, and its potential for massive returns. Moreover, the COVID-19 pandemic has also played a role in increasing the number of Bitcoin investors in the US and around the world, as people seek alternative investments during financial uncertainty.
According to the Harris Poll survey, the most common age group that owns Bitcoin is between 18 and 34, with 23% of people in this age group claiming to own the cryptocurrency. This is followed by people aged 35-44, with 15% ownership, and those aged 45-54, with 11%. Interestingly, only 3% of people aged 65 and over owned Bitcoin.
The survey also revealed that men are more likely to own Bitcoin than women, with 15% of men reporting ownership compared to only 7% of women. Additionally, people with higher incomes were more likely to own Bitcoin, with 23% of those earning over $100,000 per year owning the cryptocurrency.
It is worth noting that the survey was conducted in April 2020, before the massive surge in Bitcoin’s value in late 2020 and early 2021. As such, it is likely that the number of US citizens owning Bitcoin has increased since then.
Bitcoin’s rapid rise in value in recent years has made it an attractive investment opportunity. In 2017, the price of Bitcoin reached an all-time high of $20,000, but then sharply declined in value in the following years. However, in late 2020 and early 2021, Bitcoin’s value surged once again, reaching a new all-time high of over $60,000.
Despite the volatility of Bitcoin’s value, many investors see it as a long-term investment opportunity. Some believe that Bitcoin has the potential to become a major global currency, while others see it as a hedge against inflation and a store of value.
In conclusion, while the number of US citizens owning Bitcoin is relatively low compared to the population as a whole, it is a rapidly growing trend. As the world becomes increasingly digital and decentralized, it is likely that more and more people will invest in Bitcoin and other cryptocurrencies as an alternative to traditional financial systems.