New survey data highlights the ideological and economic factors driving some investors to purchase bitcoin.
A new report published today by LendEDU – which has conducted several similar studies in the past year – details the responses from 564 poll-takers. Of those, roughly 40% of participants said that they invested in bitcoin because they believe it is “a world changing technology.”
Twenty-one percent of those involved say its because bitcoin is “a long term store of value, like gold or silver”, with roughly 15% of those saying they bought in because a friend or family member recommended it. Those who said they think the price is “too low” accounted for 14% of respondents, while just 8% said they planned to use bitcoin as a payment method.
Notably, the survey also asked at which price participants would choose to sell their holdings. Perhaps unsurprisingly, the average of the amounts cited came out to a whopping $196,165.79 per bitcoin. Bitcoin is currently trading at around $7,680, according to the CoinDesk Bitcoin Price Index (BPI)…
Read Full: Survey: Bitcoin Investors Won’t Sell Until Price Nears $200k