One in three Americans think bitcoin will reach $100,000 by end of 2022Bitcoin IRA’s latest consumer sentiment survey explores what’s motivating Americans to invest in cryptocurrencies in 2022.
LOS ANGELES, Dec. 16, 2021 /PRNewswire/ — Bitcoin IRA, the world’s first, largest, and most secure digital asset IRA technology platform that allows clients to purchase cryptocurrencies and other digital assets for their retirement accounts, today released results of their recent survey asking individuals for their market sentiment, motivations, and investing choices on crypto heading into 2022.
Key takeaways from the survey:
- Bitcoin’s price projection: Approximately one in three responders believe Bitcoin’s price will be above $100,000 at the end of 2022, and over 14% believe it will be above $150,000. Bitcoin’s price doubled in 2021 and investor sentiment remains high likely due to large institutional investments in bitcoin this past year and countries around the world, like El Salvador, adopting the cryptocurrency as part of their reserve currency.
- Reasons to invest: 49% of survey takers said they are speculating crypto prices will rise as a motivating factor to add digital assets to their IRA. Additionally, 25% of respondents indicated that inflationary pressure is driving them to invest in cryptocurrencies as a hedge against rising prices.
- Amount invested: 27% of respondents said they’re planning to invest over $100,000 in cryptocurrencies with their IRA.
- Most Requested Altcoins: Ethereum-rival, Solana was the #1 most requested alternative coin, “altcoin,” for investing (excluding Bitcoin and Ethereum) with 54% of respondents selecting it. Other top requested cryptocurrencies included Polygon (MATIC), Polkadot (DOT), and Shiba Inu (SHIB).
- Timeline: Roughly 25% of respondents said they expect to invest in cryptocurrencies in the next 12 months, followed by 22% of respondents saying they plan on investing in cryptocurrencies in the next 30 days.
“Between inflation, a crypto boom, and major advancements in the digital asset world, these are all factors that are forcing people to consider cryptocurrencies as we head into the new year. With key countries, institutions, and organizations across the world adopting digital assets in some form, Americans want to take part in a major shift happening in our economy,” said Chris Kline, co-founder and COO of Bitcoin IRA. “Crypto’s resilience and relevancy in 2022 will be driven by the runaway spending in Washington and an unstable dollar, as these coins offer an instrument of change to traditional fiat currencies run amok.”
The 2022 consumer survey was sent in December 2021, to a randomized group of individuals comprised of the company’s clients, account holders, and customer prospects since 2016. Individuals did not receive compensation or likewise for their participation in the survey.
About Bitcoin IRA
Bitcoin IRA, available at bitcoinira.com, is the world’s first, largest, and most secure digital asset IRA technology platform that allows users to purchase cryptocurrencies and physical gold for their self-directed retirement accounts.
They provide a secure self-trading platform for self-directed retirement accounts. Users can set up a qualified digital asset IRA, transfer funds from an existing IRA custodian, execute self-trades in real-time 24/7 through a US-based exchange, and store funds in an industry-leading, multi-signature digital wallet from BitGo. Users can also earn up to 6%* interest on their cash and crypto assets with IRA Earn.
Bitcoin IRA has processed $2 billion in transactions and has over 100,000+ users with more than 3,000 5-star user reviews. The platform has been featured extensively in the media, with coverage in Forbes, CNBC, CoinDesk, and The Wall Street Journal, among other leading publications.
Bitcoin IRA is a financial services technology provider, and as such, is not a financial adviser, cryptocurrency exchange, custodian, wallet provider, initial coin offering (ICO), or money transmitter. Bitcoin IRA is privately funded and based in Los Angeles.
Learn more about Bitcoin IRA at bitcoinira.com or call 866-333-4307.