Bitcoin: most users bought in 2020/2021
In accordance A survey of American crypto exchange Geminimore than half of Bitcoin and cryptocurrency holders in US would have made their first purchase only last year or in 2020.
Bitcoin purchases are increasing in the last 2 years
Gemini State of US Crypto Report 2021 is based on a total sample of 3,000 American adults aged 18-65 with $40,000 or more in annual household income surveyed late in 2021.
10% of respondents said they had bought cryptocurrencies for the first time in the past six months, and 16% between six and 12 months earlier. Therefore, 26% stated that they had bought in 2021.
42% said they bought between one and two years earlier, which is 2020. Altogether therefore as many as 68% of respondents said they had bought in 2020 or 2021.
Of these, 87% said they had bought Bitcoin, while 36% Ethereum. However, it is worth noting that the average value of BTC owned (about $8,500) is lower than that for ETH (about $10,000).
The majority of current cryptocurrency owners say they bought them as a long-term investment, so much so that more than two-thirds (69%) they say hold the cryptocurrencies they bought, while only 36% bought to resell in the short term.
Furthermore, 58% say they have bought, sold or traded in the last three months.
The situation in 2022 may have changed, so much so that in July, for example, as many as 4,376 BTC (more than $104 million) were sent to exchange wallets.
JUST IN: 4,376 $BTC ($104.1 million) have been added to exchanges in the last 30 days.
— Watcher.Guru (@WatcherGuru) 31 July 2022
The report takes a snapshot of the situation at the end of 2021as during 2022 may have evolved.
There is one data point that seems to reveal quite clearly that interest has not waned at all.
In fact, according to a recent survey carried out by Deloitte, 75% of US merchants plan to accept cryptocurrency or stablecoin payments within the next two years.
This survey was of course influenced by the fact that the question was not only about actual cryptocurrencies, but also about stablecoinssince the acceptance of stablecoins presents far less risk for a merchant.
This should not be underestimated at all, both because it was carried out in collaboration with PayPal and because 2,000 top managers from retail organizations were surveyed between 3 and 16 December 2021.
It is important not to overlook the fact that sellers often pay significant fees on fiat currency receipts, while fees on cryptocurrency payments are low and mostly borne by the buyer.
For example, yesterday someone transferred more than 80 million dollars in BTC pays one fee in less than $5or 0.00000559% of the transferred amount.
Someone transferred $80,030,000 in #Bitcoin and paid a fee of $4.47.
There is a transaction fee of 0.00000559%
No government banks or third parties had to confirm the transaction, nor could they have STOPPED IT, if they wanted to.
— Watcher.Guru (@WatcherGuru) 31 July 2022
For large payments or transfers, cryptocurrency offers fees that are in no way matched by traditional fiat currency systems.
Then again, it’s one thing to make statements at the end of 2021and another thing to look at the direction crypto markets takes in 2022.
