Bitcoin (BTC) is now more popular than gold among investors in the U.S.
Bitcoin overtook gold and is now the fourth most popular investment vehicle in the U.S.
Thu, 04 Feb 2021, 15:31 pm UTC
Bitcoin is now becoming a more popular investment option among American households. While the crypto overtook gold in popularity in the U.S., BTC is not as popular among Japanese investors based on a recent study by a Tokyo-based crypto exchange.
Japanese crypto exchange Bitflyer recently released a research paper on crypto sentiments and investment trends in the U.S. and Japanese markets, according to Bitcoin.com. The report confirms the rising popularity of Bitcoin among American investors as it is now ranked as the fourth most popular investment vehicle in the U.S.
Bitcoin grabbed the fourth spot from gold as the precious metal slid down to the fifth spot. Stocks occupied the top spot followed by the group consisting of 401K, certificate of deposits, and insurance at second place, while real estate was the third most popular investment vehicle for Americans.
The research also made a comparison between the investment trends in the U.S. and Japan. While Bitcoin became more popular than gold in America, the crypto is not as popular in the Japanese market.
Bitflyer’s study revealed that 76 percent of Americans view cryptocurrencies positively while only 24 percent view them negatively, according to Ihodl.com. However, the reverse is true in Japan where 78 percent of the respondents view cryptos negatively while only 22 percent view digital assets positively.
However, the research did not indicate how the survey was done and did not offer an explanation of the marked difference in the sentiment for cryptos between American and Japanese households. It can be assumed that crypto’s rise in popularity in the U.S. can be attributed to the market rally, which saw most cryptocurrencies such as Bitcoin (BTC) and Ether (ETH) establish their new all-time highs. However, it can’t be explained why the rally did not improve Japanese sentiment toward cryptos.
Another difference between the two markets is that 82 percent of U.S. respondents invest in financial assets highlighting the growing interest in investment within the general public as a financial safe-net. On the other hand, 69 percent of Japanese respondents do not invest in financial assets at all.
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