As cryptocurrency is gaining popularity, people are turning money they have from stocks into crypto. A survey in the US found that 23% of respondents had sold stocks or bonds to buy crypto. This data was sourced from civicScience and public opinion polling.
An online poll that received 1,997 responses showed that 76% are more likely to invest in cryptocurrency than 24%.
This is a major shift from June 2021, when stocks were valued at 90% and crypto was 10%.
CivicScience reported that some investors have been selling their stock assets in recent years to purchase cryptocurrency. This information is compared with the market observer type to see that serious investors swap more assets than casual investors.
Around 7% claimed that they had sold stocks or bonds to purchase crypto. 16% claimed to have known someone who has. The remaining 77% are unable to make such investments or know of someone who has.
According to the company 66% of assets have been sold and resold to buy crypto.
CivicScience data shows that over one-fifth of the respondents have used their stock assets to buy cryptocurrency. This is an incredible number. This number can be attributed to those who closely monitor the financial markets and economy.
According to the firm it is possible that dedicated investors might know more about cryptocurrency than the rest of the public. Perhaps they are more willing to take on risk than their less financially focused counterparts.
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