33% Of London Investors Looking At Bitcoin And Crypto Coins, Double The Average In Recent Survey
Recent Survey Reveals A Third of Londoners to Invest in Crypto, Double Countrywide Average
A survey conducted by Atomik – on behalf of Rathbone Investment Management – concluded that one in three Londonners are more likely to invest in cryptocurrencies in the near future. When compared to the rest of the country, Londonners are twice as likely to get involved.
The survey consisted of over 1,500 UK residents, which is a large enough sample (as per the Central Limit Theorem) to make inferences about the whole population.
The findings further looked at whether there is a correlation between the age of an investor and his or her choices and, turns out there is. In particular, 37 percent of the sample were 35 years of age, and were more interested in the crypto sphere compared to the 4 percent consisting of over 45 years of age. Another interesting conclusion made is that one in eight Londoners, which is approximately 12.5 percent, had made gains within the crypto sphere.
Assessing the results and coming up with a sound analysis is Rathbone IM’s Investment Director, Robert Hughes-Penney, who trusts that early investors were able to make said gains. He also believes that investment strategy plays a significant role in one’s interest, adding that those who have had short investment goals were more prone to taking risks, compared to the rest who preferred less risk.
According to press release made back in June 2018, generation is a factor to consider, as UK millennials were more open to the crypto sphere, preferring it over real estate. Ultimately, the results from the survey do not come too much of a surprise, given London’s continuous support towards blockchain startups.
However, it is important to note that interest in crypto still exists for 33 percent of Londoners, which only goes to show that accusations that the market will eventually fall is complete absurdity.