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Investors are dumping stocks to buy crypto 1

Cryptopolitan


TL; DR Breakdown

  • CivicScience survey shows investors are tilting towards crypto
  • The figure shot up by 140% in five months
  • CivicScience survey numbers show promise for the crypto sector

Cryptocurrencies are now the big wig in the financial sector, pulling investors away from other parts of the sector. This is not new as investors prefer the sector’s profit over other types of financial instruments. In a survey that backs up this claim, there has been a massive exodus of users from the stock market who have entered the crypto sector. A recent CivicScience survey showed a jump in the number of investors leaving the stock market to buy up one or more forms of digital assets.

The figure shot up by140% in five months

According to the CivicScience survey, the respondents were residents of the United States of America who were 18 or above over this year. The results were compiled by an official United States census data with about 40,600 users answering a question. Considering the results, there was a surge of about 140% in the number of investors interested in taking crypto over stocks. The surge happened in about five months, as the previous CivicScience survey showed that only 10% of the respondents were interested in crypto over stocks. Also, the number surged a little to 24% last month, giving it a slight boost.

CivicScience survey numbers show promise for the crypto sector

According to those interested or a fan of the financial market, they would rather hold or swap their stocks for crypto. In the survey, about 40% of the respondents answered yes if they knew traders who had dumped their stocks for crypto. However, the percentage was not so good for those not deeply into the market, with the percentage standing at 30%. Lastly, the number of traders who knew someone that is not into the market who would dump their stocks for crypto dropped to 17%.

In another survey among 1,988 market traders, only 40% said they would sell about 10% of the stocks in their portfolio to buy crypto. CivicScience uses its partnerships with digital and mobile companies to conduct its survey. Another CivicScience survey relating to users unmoved about crypto and blockchain showed a rather convincing decline. A previous figure of 80% is now presently close to 68%.



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