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If there is one thing bitcoin bull markets are good for, it’s drawing investors into the market. This has been the case for all of the past bull rallies and the 2021 rally was no different. The number of investors who bought their first BTC this year has been significant, soaring higher than the number of investors that were already invested in the cryptocurrency.
Grayscale LLC carried out a survey that showed that 2021 has been a remarkable year for new bitcoin investors who flocked to the market en masse. The multiple bull runs this year brought with it heightened interest from both individual and institutional investors and that fact shone through in the data collected by Grayscale.
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55% Of Investors Got In This Year
Grayscale LLC carried out a survey that consisted of 1,000 respondents and the results have shown some interesting trends. According to the survey carried out in mid-August, a larger percentage of all investors in bitcoin only started investing this year.
Of the 1,000 respondents, a quarter (25%) said that they already bought and owned BTC but more interesting was the fact that 55% of all respondents who owned BTC said that they started investing in the digital asset this year.
BTC starts another recovery trend | Source: BTCUSD on TradingView.com
This follows the growth trend of the digital asset and other cryptocurrencies as investors placed their stakes in various assets. Another space that has benefitted from the increased interest has been the DeFi space, which has grown exponentially in the space of one year.
Investors Cannot Ignore Bitcoin
Bitcoin is more or less already mainstream and the responses to the survey showed that this is the case. Investors, no matter what their preferred method of investment is, can no longer ignore bitcoin, or even the promise that the digital assets holds going forward. Grayscale noted this fact in the survey report as it stated that “it is becoming increasingly difficult for investors to ignore bitcoin as its price continues to rise.”
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About 80% of the respondents also answered that they were likely to invest in bitcoin through an exchange-traded fund, indicating that even those who are yet to invest in BTC have the asset on their radar. However, this is impossible right now as the SEC is yet to approve any bitcoin exchange-traded funds.
Other interesting findings from the survey were that more investors (60%) were willing to purchase BTC through an app. In contrast to this, over 75% of polled respondents in 2020 had revealed that they would rather purchase their bitcoin through an exchange.
Chart from TradingView.com