Cryptocurrency Investors to Nearly Double in Next Year

Number of the Day: The most relevant or interesting figure in personal finance

NOTD 19.3 Million

The Balance

That’s how many people plan to buy cryptocurrency in the next 12 months, according to new survey findings, almost doubling the estimated population of investors in the trendy new asset class.

In a fall survey by Gemini, a platform for trading cryptocurrencies, about 13% of respondents said they planned to purchase a cryptocurrency over the next 12 months, equating to the 19.3 million U.S. adults, the company said Wednesday. Based on its sample size, Gemini estimated roughly 21.2 million adults already owned cryptocurrency. 

Cryptocurrencies, decentralized digital currencies, have surged in popularity, fueled by the soaring price of Bitcoin, high-profile companies like Tesla accepting some as payment for cars, and online payment apps including PayPal and Venmo allowing users to buy, sell, and hold them. Even the IRS is making it a priority to collect taxes on digital currency trades.

Current cryptocurrency investors tend to be between 25 and 54, but the new wave of potential cryptocurrency buyers is older. A quarter of the “crypto curious” crowd—which wants to learn more about the digital assets but doesn’t own any—are 55 or over, the survey showed.