A new survey shows that British people are more keen to invest in cryptocurrencies than traditional stocks and stock investments.
A survey by the British investment company AJ Bell found that 7% of UK adult respondents said they bought cryptocurrencies last year, while the proportion of respondents who invested in stocks and stock ISAs (personal savings accounts) was 5%. The stock and share ISA is a savings account that allows users to invest without paying taxes on any income or capital gains.
The survey was conducted by Findoutnow, an online market research tracker, and surveyed 1,269 respondents. Laith Khalaf, financial analyst at AJ Bell, commented that the results overturned popular belief:
“When more people buy cryptocurrencies than invest in the stock market Isa, you have to conclude that the world’s cryptocurrencies are crazy,”
Opinion surveys found that cryptocurrency investors are mainly male. Among those who purchase crypto assets, less than 35% and 71% claim to have made a profit, while 12% claim to have lost money in the past year. Interestingly, 17% of people said they don’t even know whether their crypto investment is profitable or lossy.
The survey seems to be related to Research on Parliament Street, a British think tank, in March This shows that 52% of the 2,000 respondents in this particular survey stated that they are more likely to invest in traditional assets such as the stock market and gold than cryptocurrencies, and one-third said they would not invest in cryptocurrencies because they believed They have already “missed the boat”.
UK financial outlets This is moneyAccording to reports, analysts from AJ Bell said that this new study shows that young people are more confident in their understanding of cryptocurrencies, but he personally remains skeptical of them: “It seems that some consumers are learning how to use Cryptocurrencies have already understood cryptocurrencies in depth before. Swim in shallow waters.”
Khalaf recommends investing in a diversified portfolio that is not excessively exposed to cryptocurrencies, adding:
“The young image of cryptocurrency buyers shows that they may have accumulated very few assets so far, and if the cryptocurrency market becomes worse, their finances may be severely damaged,”
related: UK Starling Bank will resume cryptocurrency exchange deposits at the end of June
The analyst commented on Elon Musk’s impact on the Bitcoin market, referring to some of his recent tweets, stating that “they hardly measure the broader business sentiment towards Bitcoin,”
British Express Report The HMRC (UK Revenue and Customs Service) data released last week is another sign that the current cryptocurrency investment frenzy shows no signs of slowing down.