This Is What the Average Bitcoin Owner Looks Like Play Video

Chances are, you’ve heard of Bitcoin. But the odds are much smaller that you actually have a stake in it.

Nearly 60 percent of Americans have heard or read about the world’s largest cryptocurrency, according to a joint SurveyMonkey and Global Blockchain Business Council poll of more than 5,700 adults conducted in January. But only 5 percent of people actually own the digital coin.

Those few Bitcoin investors are of a fairly consistent demographic. An overwhelming 71 percent of them are male. The majority — 58 percent — are young, between the ages of 18 and 34 years old. And unlike the broader U.S. population, nearly half of them are minorities.

When asked why they bought the crypto asset, investors answered that a combination of a lack of trust and an opportunity for return are at play. About one-third of Bitcoin owners said it was a means to avoid government regulation — 24 percent also said they trust Bitcoin more than the U.S. government in a separate question — and about two in 10 saw it as a hedge against crashes in traditional assets. More than 60 percent also said that buying the digital coin was seen as a growth investment.