The mainstream adoption of Bitcoin has been the main goal of the crypto space lately.
It’s been just revealed that the vast majority of accredited investors are considering buying Bitcoin in 2021, as noted by the crypto disclosure and transparency platform Xangle.
In a brand new report, Xangle surveyed 379 authorized investors in the US and found that “74% of them plan on investing in Bitcoin in the next 12 months, 70% have already invested in the flagship cryptocurrency, and 79% of investors told Xangle that they are looking at Bitcoin as both a long-term and short-term store of value that will generate high returns.”
Most accredited investors plan to buy more than $500k BTC
It’s also important to note the fact that accredited investors are defined by the SEC as individuals with $200,000 in annual income or $300,000 in joint income for the last two years and the expectation that they will match that in the current year.
Of those surveyed by Xangle, most of them are planning on investing more than $500,000 into Bitcoin.
“While our respondents had a variety of preferred investment amounts, most (28.7%) agreed that $500,000 or more was a good amount. If we know that the majority of our respondents have $1 million or more invested in their portfolios, this means that many of our respondents wanting to invest in Bitcoin are willing to make it half of their portfolio,” according to official notes.
For those who are considering investing but haven’t done so yet, most of them are waiting for Bitcoin’s volatility to decrease and the price to stabilize.
“For those who would consider investing, we wanted to know what would need to change for them to invest. The majority (25.8%) cited that the price of Bitcoin would need to stabilize since price volatility was the single biggest factor keeping them away,” according to the same notes.
They want BTC to settle as more of an institutionalized asset first.