HOW MUCH: Crypto assets continue to rise in popularity, despite their recent price sell-off. 29% of polled investors in our global survey now own, up 3 points from the Q4 survey. More retail investors now own crypto than any other asset apart from domestic equities (see chart). Within a decade crypto has risen to be better owned than many bigger and more established asset classes. Also, those who own crypto own a lot, at an average 31% of portfolio, and some ‘true believers’ a lot more. Those owning ranges from a 26% relative low in Germany to a 40% high in Holland, of 12 countries surveyed. This highlights the resilience of the asset class during one of its periodic pullbacks, but also the focus on institutional adoption as the next multi-year driver.
WHY & WHY NOT: The biggest reason for owning is the belief it’s a ‘transformative asset’ (28%), followed by speculation (27%), ‘store of value’ (23%), and inflation hedge (17%). Those avoiding it are put off by a lack of understanding (38%), volatility (25%), too niche (13%) and lack of regulation (13%). There is a demographic split, with half 18-34’s owning crypto vs only 34% for domestic equities. This flips for older cohorts, with 9% of 55+ owning crypto vs 63% owning stocks. Men (34%) are more likely to own than women (24%), a future demand driver.
WHAT: Despite the high levels of retail ownership, ‘Don’t know’ remains the most popular crypto coin according to 46% of those polled, reflecting the need for more education. Bitcoin (BTC) and Ether (ETH) are the most popular coins, and have regained share from altcoins vs the prior survey. Litecoin (LTC) and Dogecoin (DOGE) were the next most popular coins.
All data, figures & charts are valid as of 19/04/2022