If there is any benefit to the Bitcoin bull market, it is to attract investors to enter the market. This has been true of all bull market gains in the past, and the 2021 rally is no exception. The number of investors who bought the first BTC this year is very impressive, which is more than the number of investors who have already invested in the cryptocurrency.
A survey conducted by Grayscale LLC shows that 2021 is an extraordinary year for the large number of new Bitcoin investors entering the market. This year’s multiple bull markets have aroused the interest of individual and institutional investors, and this fact is vividly reflected in the data collected by Grayscale.
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55% of investors entered this year
Grayscale LLC conducted a Polls Composed of 1,000 respondents, the results showed some interesting trends. According to a survey conducted in mid-August, a larger proportion of all Bitcoin investors only started investing this year.
Of the 1,000 respondents, a quarter (25%) stated that they had bought and owned BTC, but more interestingly, 55% of all respondents who owned BTC stated that they started investing in digital assets this year.
BTC starts another recovery trend | Source: BTCUSD on TradingView.com
As investors place their shares in various assets, this follows the growth trend of digital assets and other cryptocurrencies. Another area that has benefited from increased interest is the DeFi area, which has grown exponentially over the course of a year.
Investors can’t ignore Bitcoin
Bitcoin has more or less become mainstream, and the response to the survey shows that this is indeed the case. Investors, no matter what their preferred investment method is, can no longer ignore Bitcoin and even the promise of digital assets to the future. Grayscale pointed out this fact in the survey report because it stated that “As the price of Bitcoin continues to rise, it is increasingly difficult for investors to ignore Bitcoin.”
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About 80% of respondents also responded that they might invest in Bitcoin through an exchange-traded fund, which shows that even those who have not invested in BTC are concerned about the asset. However, this is currently impossible because the SEC has not approved any Bitcoin exchange-traded funds.
Another interesting finding of the survey is that more investors (60%) are willing to buy BTC through the app. In contrast, more than 75% of respondents in 2020 said that they are more willing to buy Bitcoin through exchanges.
Chart from TradingView.com