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Survey shows the Elderly Population in the US is the Least Interested in Crypto

Cryptocurrency investments continue to be popular among the young population. A recent survey by Bakkt showed that 40% of young Americans are confident about cryptocurrency investments.

The survey also showed that 32% of the respondents who were yet to make any cryptocurrency investment were interested, showing that the number of young people investing in crypto in the US will be high in the coming years.

Holding for the long-term

The survey also showed that most of the respondents who were venturing into cryptocurrencies were doing so for the long term. The survey was conducted on over 2000 American citizens to identify the reasons for or against making investments in the digital asset sector.

The survey results showed that 35% of the respondents aged between 18 and 29 invested in cryptocurrencies as long-term investments. 29% of the people within this age group invested in cryptocurrency to sell after making short-term profits.

36% of the respondents aged between 30 and 44 years stated that they had ventured into the digital asset sector as a long term investment and to accumulate value. Only 23% of respondents in this age group stated they were investing in crypto to sell for short-term profits.

Furthermore, the overall results of this survey stated that 28% of people found long term return on investment as the most appealing reason for venturing into cryptocurrencies. The results of this survey could show that crypto is slowly transitioning from merely being used for speculation to a long-term investment plan.

Elderly are Less Interested in Crypto

The Bakkt survey also shows that the elderly are the least interested in cryptocurrency. The overall results showed that 69% of the respondents who stated they owned cryptocurrencies were aged between 18 and 44 years.

The report also showed that only 14% of the respondents aged above 60 years wanted to invest in cryptocurrencies as long-term investment strategies. Moreover, 52% of the respondents in this age group stated that they were not interested in investing in cryptocurrencies.

The lack of interest in cryptocurrencies among respondents above 60 years was clear, with 54% of them stating that they do not know anything about cryptocurrencies.

The Bakkt survey comes at a time when the level of crypto adoption in the US is increasing. Previous research has ranked the US as the most prepared in terms of digital asset adoption.

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Indonesia’s Central Bank Considers Issuing Digital Currency to ‘Fight’ Crypto

Bank Indonesia, the country’s central bank, is reportedly considering issuing a central bank digital currency (CBDC) to fight the use of cryptocurrency. “A CBDC would be one of the tools to fight crypto. We assume that people would find CBDC more credible than crypto,” said an assistant governor of the central bank. Central Bank Sees::Listen

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Bank Indonesia, the country’s central bank, is reportedly considering issuing a central bank digital currency (CBDC) to fight the use of cryptocurrency. “A CBDC would be one of the tools to fight crypto. We assume that people would find CBDC more credible than crypto,” said an assistant governor of the central bank.

Central Bank Sees CBDC as Tool to ‘Fight Crypto’

Juda Agung, an assistant governor of Bank Indonesia, the country’s central bank, talked about cryptocurrency and central bank digital currency (CBDC) during his parliamentary “fit and proper test” to become the deputy governor of the central bank.

He said that Bank Indonesia wants to issue a digital rupiah to be used as legal tender to fight cryptocurrency, Bloomberg reported, noting that the central bank has been looking into this issue since the beginning of the year.

In Indonesia, crypto assets are traded alongside commodity futures and are regulated by the trade ministry, the assistant governor explained. However, he emphasized that they have a significant impact on the country’s financial system, elaborating:

A CBDC would be one of the tools to fight crypto. We assume that people would find CBDC more credible than crypto. CBDC would be part of an effort to address the use of crypto in financial transactions.

According to the trade ministry, about 7.4 million Indonesians invested in crypto assets as of July, doubling from last year. Their crypto transactions totaled approximately 478.5 trillion rupiahs ($33.3 billion). The Indonesian government is pushing forward with plans to set up a dedicated crypto exchange.

Meanwhile, Indonesia’s Ulema Council (Majelis Ulama Indonesia or MUI), the country’s top Islamic body that holds the authority on Shariah compliance, recently declared the use of cryptocurrency haram, forbidden under Islamic law for Muslims.

What do you think about Indonesia’s central bank wanting to issue a central bank digital currency to fight crypto? Let us know in the comments section below.

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Regulation, Bank Indonesia, CBDC, cbdc vs crypto, cbdc vs cryptocurrency, Central Bank, indianesian central bank, indo, Indonesia, Indonesian, Indonesian central bank, legal tender

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Survey shows the Elderly Population in the US is the Least Interested in Crypto

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