Kraken: 70% of crypto investors prefer investing in bitcoin

What’s new? According to a survey by crypto exchange Kraken, 73% of cryptocurrency holders in the US plan to continue investing in this type of asset next year. At the same time, 70% of respondents prefer investing in the most well-known and established digital assets — primarily bitcoin — while meme tokens (such as Dogecoin) and newer blockchain coins (such as Solana) were supported by only 12% and 17%, respectively.

Kraken report

What else is known? According to the exchange, such a high percentage of positive crypto investors “underscores the evolving landscape of investing in cryptocurrency, where potential volatility is met with an increasing appetite for opportunity.”

Indeed, 36% of cryptocurrency holders believe this asset type has greater growth potential compared to traditional investments such as stocks (34%), bonds (13%) and real estate (17%). The most preferred cryptocurrencies for them are “traditional” cryptocurrencies such as bitcoin.

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“This finding could suggest a focus on longevity as investors prioritize coins with a longer history and a larger market cap. Many in the crypto market feel these coins are more resilient during periods of negative sentiment,” analysts emphasize.

Various groups of people, regardless of income level, cite established cryptocurrencies as the most attractive investment option, indicating that risk assessment is a priority. According to Kraken analysts, coupled with the above data, this indicates investor confidence in the cryptocurrency market.

However, they noted that there are barriers to wider adoption of cryptocurrencies. For instance, 31% of respondents said that rising prices would increase their interest in the market. Among other key factors contributing to the mass adoption of the new asset type, investors cited the introduction of cryptocurrencies by well-known banks and businesses (22%), the adoption of clear rules for the industry (21%), and the endorsement of cryptocurrencies by their inner circle (15%).

Also contrary to expectations, it was found that middle-aged people are more likely to invest in cryptocurrency than millennials or Generation Z. For example, 69% of respondents aged 45-60, 49% in the 30-44 age group and 55% in the 18-29 age group reported crypto investing. Also, 20% of respondents over the age of 60 stated about buying cryptocurrencies.

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The findings may indicate that middle-aged people are more experienced investors who are probably less intimidated by potential market volatility. It also points to the active development of cryptocurrency users.

According to analysts, this does not mean that “younger generations are entirely out of the game” — its representatives still make up a significant portion of crypto investors. However, the new data suggests that a wide range of demographic groups view cryptocurrency as an investment or even as the future of finance, the report concludes.