A recent Bitcoin IRA survey helped uncover Americans’ retirement savings habits and sentiments towards alternative assets, including Bitcoin. While more than 45 percent of the population reports having nothing saved for retirement, when given the choice of how they would invest, nearly half said that they believe alternative assets, including real estate and cryptocurrency, have the most aggressive growth potential.
“It is a good sign for cryptocurrency that consumers of all ages see real potential for its universality and are largely positive about the possibilities for long-term growth,” said Chris Kline, co-founder and chief operating officer of Bitcoin IRA. “The number of people looking beyond traditional asset classes to enhance retirement portfolios could indicate a growing distrust of the conventional market.”
But it’s not just tech-savvy millennials who are interested in crypto. In fact, the Bitcoin IRA survey indicates a quarter of those within the Boomer age group who reported having at least one retirement account said they would consider investing in digital currency. And that’s not the only surprising data.
“While we weren’t shocked to learn that millennials are the most bullish on crypto’s immediate growth potential (49 percent predict Bitcoin will surpass $10,000 in the next six months), we were surprised to uncover that more than a quarter of Boomers believe cryptocurrency will be as widely accepted as cash one day,” Kline added.
Highlights from the Bitcoin IRA-commissioned survey, broken down by generation, include:
- More than ¾ of millennial respondents expressed a positive sentiment towards cryptocurrency, associating terms such as “investment,” “curiosity” and “wealth” most closely with digital currency
- While only ¼ of millennials report having a retirement account, 60 percent say they would consider investing in Bitcoin or other cryptocurrencies with a portion of their retirement funds
- 63.6 percent of millennials think Bitcoin will increase in price over the next six months
- More than half of millennials believe cryptocurrency will become as widely accepted as cash or credit card
- Half of the Gen Xers polled said they would consider investing in Bitcoin or other cryptocurrencies with a portion of their retirement funds
- Nearly ⅔ of respondents that are considered to be part of Generation X have a positive sentiment towards cryptocurrency, most closely associating terms including “investment,” “innovation” and “curiosity” with digital currency
- 35.5 percent of Gen Xers believe cryptocurrency will become as widely accepted as cash or credit
- More than half of the Gen X respondents believe alternative assets have the most potential for aggressive growth
- More than 1/4 of Boomers with a retirement account would consider investing in Bitcoin or cryptocurrency
- 41 percent of Boomers believe the price of Bitcoin will increase over the next six months
- More than ¼ of Boomers surveyed believe cryptocurrency will be as widely accepted as cash or credit
- Nearly 1/2 of Boomers believe alternative assets have the greatest potential for aggressive growth
For more information on the Bitcoin IRA survey and to access an infographic of the data, visit www.BitcoinIRA.com.