Americans invest in cryptocurrency for profit, not due to dissatisfaction with traditional finance. This is the conclusion reached by researchers at the Bank for International Settlements (BIS).<\/p>\n
According to the report, US investors do not regard digital assets as an alternative to fiat currencies. The crypto industry attracts people with the prospect of market speculation.<\/p>\n
The researchers emphasized that Americans, concerned about the safety of cash and bank accounts, seek to learn more about cryptocurrencies, but ultimately do not invest in them.<\/p>\n
The probability of purchasing digital assets rises with higher levels of education and income, BIS adds. The report also notes broader diffusion of cryptocurrencies in the United States.<\/p>\n
According to the survey, around 40% of Americans knew about Bitcoin in 2014, and the figure rose to 70% in 2019. Yet only 1.4% of respondents owned at least one digital asset.<\/p>\n
Earlier, BIS’s innovation hub head Beno\u00eet C\u0153ur\u00e9 said that Bitcoin has failed as a currency due to high volatility<\/a>.<\/p>\n Earlier, researchers from Crypto Head assessed the United States as the most prepared country for the mass adoption of cryptocurrencies<\/a>.<\/p>\n