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30% Of Londoners To Invest In Bitcoin In Near Future — Research

23:00 26/09/2018

Residents of nine-million London are twice more eager to invest their savings in cryptocurrencies as compared to investors from other cities located on the territory of the UK. About 30% of Londoners plan to purchase crypto assets in the near future, according to survey results by Rathbone Investment Management. As for the remaining citizens of the country, this indicator reaches only 13%.


Analysts discovered that young people under the age of 35 are more prone to make crypto investments. In particular, 37% of them expressed their intention to invest their savings in BTC and ETH. At the same time, only 4% of the older respondents gave a positive response.


In addition, one in eight investors in the capital of the UK report making their fortune on digital assets such as BTC or ETH. On average, only 4% of enthusiasts nationwide associate their wealth with cryptocurrencies. Experts say that young investors want to follow the steps of the early bitcoin adopters, who made a fortune on digital assets.


Researchers explained the results by stating that many Londoners prefer short-term investments, and they are more vulnerable to the so-called bitcoin craze. On the other hand, investors outside the capital are more aware of the high risks associated with investing in this type of assets.


The report suggests that despite Londoners’ friendly attitude towards cryptocurrencies, the majority of respondents do not view digital assets as the only option for storing funds. The British continue to store money on traditional savings accounts and invest in stocks.


It is reported that more than 1500 adult respondents participated in the survey.


As per the findings of other research, the crypto community expects bitcoin's price to increase to $10,000.

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