Do you think a normal investor will sell all of his Bitcoins at what price? According to a survey of US investors, that “drop-out” price is $196,000.
Student financial aid company LendEdu‘s November 2017 564 Americans who invested in Bitcoin participated in the survey conducted in. Although similar surveys have been conducted in the past to raise awareness of Bitcoin, the participants in this survey are only Bitcoin investors.. As a result of another survey conducted in 2015, it was understood that 65% of American citizens did not know about Bitcoin.. However, the question asked in this survey is “Are you aware of Bitcoin?” not “When will you sell your Bitcoins?”. This means that today’s price (and market value) is approximately 26x. Another thing to note: the question is not when to sell your Bitcoin, but when do you get rid of all Bitcoins. 32.62 of the participants have already sold several times since the beginning of the investment. Of course, considering Bitcoin’s recent skyrocketing price, this willingness to sell is quite reasonable.
83.51% of respondents at least said they would not sell for 1 year. The remaining 16.49% have announced that they will make sales within the next 1 year.. 21% of the participants stated that they would not make sales for at least 7 years, and 11.7% stated that they would not sell for at least 10 years.. Assuming the price was 7 years ago 8 cents, or $0.08, the long-term no-sell plan also sounds reasonable.
Digital Gold or a Speculative Tool?
Experts are still debating whether Bitcoin really has a custody value or is it just a tool that stands up to speculation?. However, LendEdu’s poll results give a completely different impression on people’s thinking:
“I believe Bitcoin will change the World, with the most popular response 40.78% ‘ was. The vast majority of investors describe the reason for the investment as the technology behind it, which is quite interesting.. In general, the statements made by professionals working in the field of finance are that investors are taking a very risky business.”
It seems that those who slander Bitcoin are in the wrong opinion; Investors aren’t just “stupid people” chasing profits. Bitcoin investors in the US seem smart enough to appreciate the technology behind the project.
Best given 2. The answer is that Bitcoin is like a digital gold:
“21.81% of respondents said that the reason for their investment was Bitcoin’s ‘throw-in’ value. Many analysts compare Bitcoin to precious metals such as gold, silver or platinum. For centuries, investors have chosen these precious metals to move away from government-issued currencies.”
Security Doubtful
There is another big conclusion to be drawn from the survey.. Almost half of respondents doubt the security of Bitcoin’s technology, with 44.15. This fear isn’t all that surprising, as Mt. There are very large examples of disasters such as Gox. This exchange once held a full 70% of all Bitcoin transactions in the world.. However, it later went bankrupt and its CEO went to court on abuse charges in Japan. Although he himself said, “I am not guilty,” it was too late for everything.
The cursed Mt.. There were also security problems in exchanges other than Gox.. Many exchanges were hacked, and customers’ Bitcoins were lost… In fact, today, crypto money holders may also prefer solutions with a hacking risk such as hardware wallets that are near 0.. But regardless, investors are right to be paranoid over security.. Paranoia can be the best security guard of people -and cryptocurrencies-.
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