1 in 4 Americans Owns Bitcoin: Unchained Study
Unchained, a prominent Bitcoin financial services provider, today released a new report showing an interesting surge in Bitcoin ownership among Americans. The study found that one in four Americans and 55% of investors surveyed (which Unchained defines as people between the ages of 18 and 78 with at least one investment account) own Bitcoin.
The study, which surveyed 402 US investors, found that 95% of current BTC holders are considering increasing their holdings in 2024. Surprisingly, almost half of non-BTC owners have expressed a strong intention to purchase Bitcoin in the coming year.
Key drivers influencing potential BTC purchases in 2024 include increased regulatory clarity for digital assets, a factor highlighted by 42% of current BTC owners and 35% of non-owners. Other influential factors identified included the Securities and Exchange Commission’s (SEC) approval of a Bitcoin spot exchange-traded fund (ETF) and expectations of a U.S. recession.
Despite BTC price falling more than 50% from its all-time high, 79% of investors expect BTC to surpass its all-time high of $69,000. More optimistically, more than half (55%) of investors surveyed predicted an all-time high for BTC in 2024, with a third believing BTC would outperform cash, gold, and the S&P 500.
Unchained’s research predicts a significant increase in Bitcoin allocation within retirement portfolios. Nearly half of BTC owners currently have BTC in their retirement accounts, with an additional 35% considering adding one in 2024. Among non-BTC owners willing to invest in the asset, 23% expressed interest in including BTC in their retirement accounts.
“At Unchained, we are now seeing an influx of Bitcoin newcomers who understand the longevity of their assets,” said Joe Kelly, co-founder and CEO of Unchained. “As reflected in Unchained’s survey results and the activity of our clients, U.S. investors are eager to gain or expand Bitcoin exposure, especially through tax-advantaged vehicles such as Unchained’s Bitcoin IRA. . As more investors look to open or expand their Bitcoin positions, Unchained looks forward to serving them through pooled custody, Unchained IRA, trading desk or inheritance solutions.”
With approximately 158 million Americans owning investment accounts, Unchained’s survey provides valuable insight into being representative of the U.S. investor population with a 5% margin of error at a 95% confidence level. The survey, conducted digitally from October 26 to 28, 2023, when the Bitcoin price was between $33,610 and $34,977, provides a compelling outlook on BTC sentiment and expectations for 2024.
