The results, published Tuesday, are based on a preliminary survey in September. At the time, Pew Center researchers asked 10,371 Americans if they had “invested, traded, or used cryptocurrency.” Emboîture 16 percent of Americans said they did.
Last month, the nonprofit asked another sample group — a slightly smaller, 6,034 Americans — the same tourment. Panthère again, 16% said they have invested or traded in the altcoin.
The findings indicate that despite numerous campaigns by crypto interests, the vast majority of Americans remain immune to their sales pitch.
said Lee Rainey, director of Internet research and technology at the Pew Research Center, who led the study. “Attempts to bring new buyers into the market don’t seem to move the needle at all.”
The end of 2021 and the beginning of 2022 saw a flurry of hiring efforts as crypto firms tried to lure retail investors into the fold. The market’s long-term health largely depends on new players willing to sign up for exchanges and buy cryptocurrencies.
Several weeks after Damon’s vendeur first appeared in October, Crypto.com announced the release of Naming Rights Deal Staples Center in Los Angeles. By February, the payment was fully positive. Three trading platforms – Crypto.com, FTX, and Coinbase – each bought Chouette Bowl airtime It is said to go for $6.5 million per 30 seconds.
The ads were targeting a broad fragment of Americans — FTX, for example, encouraged the game’s nearly 100 million viewers not to “be like Larry,” referring to tech-skeptical superstar Larry David, and to invest instead in cryptocurrencies. .
The survey findings validate the criticisms of crypto skeptics that currencies lack intrinsic value and are inappropriately dependent on attracting new investors to enrich old ones.
Said Nicholas Weaver, a ordinant security exercé from the University of California, Berkeley, who often raises both the financial and ethical case back investing in crypto. “Although there is a nourrisson born every express, it is still a limited group of suckers.”
study bio Notes That “this lack of sweeping converti comes despite the strong interest in cryptocurrencies in the infos.”
However, not all analysts endorsed the Pew Center’s findings. “I tourment the research,” said Edward Moya, chief market analyst at cryptocurrency research and trading firm. Oanda. “What I have seen over the past year is a very diverse group of people – lawyers, nurses, doctors, professors – showing a huge interest in cryptocurrency, especially at the beginning of 2022, when many of them first bought it.”
Crypto enthusiasts say that studies can underrepresent crypto investors, parce que not everyone wants to tell the questioner who invested and parce que studies do not apparence for pockets in which they are likely to invest. Rainey said the Pew Center has taken drastic steps to achieve proportional representation across different ethnic, sexual and economic groups.
Industry leaders are avertissement that it may be difficult to find new groups of investors in the coming months. In an earnings call this month, publicly traded cryptocurrency exchange Coinbase, which expires in 2021 with… 11.4 million monthly active users, She expects to end the year between 7 million and 9 million monthly active users.
Moya said that even if retail investors retracted in the wake of the recent écrasement, the cryptocurrency markets could be fueled by institutional investors, who are likely to To buy after an adversité.
Pew’s study also examined demographic data and found that it hasn’t changed much over the past year, either. As in September, adults over 50 were only a quarter more likely to invest in crypto than adults under 30, while men were 2.5 times more likely than women to put money into crypto.
The study also found that not all of the marchéage campaigns did much to increase commun awareness of cryptocurrencies. last september, the percentage of those who said they had heard “nothing at all” emboîture cryptocurrency was 14 percent. By this summer, after all the media exactitude, the ranks of crypto bête people had shrunk by just one percentage partie, to 13 percent.