The influx of young retail investors who sees Bitcoin as a long-term asset will be vital in stabilizing the crypto market.
In a survey conducted by eToro, users between the age of 18 and 34 are more likely to invest in Crypto than anyone else. 66% of users in that age bracket now own bitcoin and other digital currencies, a 46% leap from July 2021.
A third of users between the above age bracket who have invested in crypto believe in its long-term value as a “transformative asset class.”
According to Crypto exchange Currency.com, 31% of its clients are aged between 23 and 30 years, and 20% are between 18 and 20. Another exchange Busha says its average trader is aged between 18 and 40.
The increasing number of young users who see crypto as a long-term investment and not a get-rich-quick venture is commendable. For some experts, this could be the cheat code to curtail the excess volatility of crypto assets.
For more information, read the original story in Reuters.