Cryptography still has a long way to go to the mainstream, and many investors still see it as a get-rich-quick scheme. A recent survey shows that more than 70% of cryptocurrency investors believe their investments will make them millionaires. This is a lot to rely among their investors. Note that this high trust is higher among Americans. The overall results of this survey are about 44 percent.
What do investors expect from investments in their cryptocurrency? Although Bitcoin and other cryptocurrencies are emerging as an alternative to the current banking system, they are still rarely used for payment. Cryptocurrency buyers expect huge profits in the future. A recent survey of 1,989 US citizens found that the majority of Millennials and Generation Z invested in cryptocurrencies and believed they could one day become billionaires. This is consistent with the idea that cryptocurrency is still very popular among the younger generation.
However, it is too optimistic to believe that you can become a billionaire by investing in cryptocurrency. why The Forbes 2022 report shows that there are only 735 billionaires in the United States, and even if you consider the whole world, that is not many. Also, most investors are not interested in cryptocurrency because they only care about its use and the rapid returns we have seen in the last 2 years. Survey: Over 70% of crypto investors believe they can become millionaires
In the US, only 13% of the population owns cryptocurrency, compared to 20% for Gen Z and 23% for millennials. Again, the data shows that they are easily displaced by a new asset class with the potential for huge rewards over the next decade. Money is another factor driving crypto investment. For many, when they hear stories of crypto investors becoming millionaires or billionaires every day, they don’t want to miss out on a solid opportunity that’s right in front of them. Invest in cryptocurrency to get rich?
Yes, why not! However, this should not be the only motivation. Invest only if you understand this new asset class and are not looking for quick returns. Most investors who bought cryptocurrency in 2021 were hurt by the bear market. So, if you think cryptocurrency is a get rich scheme, you will be disappointed.
With over 70% of crypto investors believing they can become billionaires, what do you think? Find us in the comments below. In addition, if you know our content consciously, share it with your family and friends.