Research by Bitflyer released today points to the cryptocurrency’s growing popularity as a US household investment option. But not in Japan.
Stocks remain the # 1 investment vehicle
Bitflyer, a Japanese crypto exchange, has released a research paper that examines cryptocurrency sentiment and investment trends in the US and compares them to the Japanese market.
The most striking difference between US and Japanese in cryptocurrency acceptance is indicated by a simple question presented to the survey participants:
While 76% of Americans view cryptocurrencies positively, 78% of Japanese view cryptocurrencies negatively.
The completely opposite pie charts show how the two markets are miles apart in their adoption of cryptocurrencies. The research does not indicate exactly when the research was done, but it can be assumed that the newsworthy rise in bitcoinBTC) has contributed to increased interest in cryptocurrencies as a whole in the US in recent months.
One can only assume that the conservative, suspicious approach that prevails in Japan towards the new and unknown leads to the lukewarm approach to the cryptocurrencies population.
The survey found that 82% of people in the US invest in financial assets, underscoring a growing public interest in investment as a viable financial security; A Pew survey found that just a few months ago, this figure was still 52%, allowing the assumption that the reality imposed by COVID has sparked new public interest in securing a financial future.
Among investors, Bitcoin / cryptocurrencies (is it still that for a significant portion of the public Bitcoin and cryptocurrency are one and the same?) Has eclipsed Gold as the fourth most popular investment vehicle, with real estate, 401k, and stocks occupying the top three spots.
Interestingly, if we compare US sentiment to Japanese, the survey points to a conflicting sentiment among the Japanese public: 69% of people do not invest in financial assets.
Anecdotal reference: In both the US and Japan, men invest more than women.
Looking ahead to 2021 as a transformative, post-pandemic year, 68% of Americans plan to increase their investment activity, while only 18% of Japanese plan to do so.
According to segments of both populations not planning to increase their investments in 2021, while Americans say they will forgo investment due to the lack of funding due to the COVID reality, Japanese are turning away from investment due to the associated risks, unrelated to the new normal.
What are your investment plans for 2021? Let us know in the comments below.
Image Credits: Shutterstock, Pixabay, Wiki Commons, Bitflyer,
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