LendEdu commissioned in November 2017 a survey of 564 Americans who had invested in Bitcoin and a lot of progress has been made since 2015, where 65% did not know what Bitcoin was.
How much do the respondents sell?
On average, respondents would sell their bitcoins at $ 196,166 per unit, or 30x the price at the time of the survey.
Nearly one-third (32.62%) have sold some of their bitcoins since they began investing.
How long do respondents keep their bitcoins?
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16.49% plan to sell their bitcoins before 1 year.
Most respondents plan to keep their Bitcoins for at least 1 year.
21% of investors plan to keep them for at least seven years, and
11.7% say they will hold the currency for 10 years or more.
Why invest: pure speculation or real interest?
While experts are wondering if people are investing in Bitcoin because they consider it a valuable deposit or a speculative investment, the survey results point to something completely different. According to LendEdu:
"The answer chosen by 40.78% of respondents, was:" I believe that Bitcoin is a technology that is changing around the world. It is interesting to see that most investors in Bitcoin consider technology as the main reason for their investment. "
The second largest group of respondents views bitcoin as something that looks like digital gold:
"The second most popular reason why investors like Bitcoin, chosen - 21.81% of those surveyed - was the possibility of long-term storage of its value. Many financial professionals often compare Bitcoin with precious metals such as gold, silver and platinum. For centuries, investors have been using precious metals to diversify their portfolios. "