67% of Bitcoin Holders Haven’t Sold It, 10% Want to Hold for 10 Years, Shows Survey
A survey by a student loan provider has concluded that over a third of American Bitcoin holders haven't sold the cryptocurrency.
A survey recently completed by LendEDU—an online provider of student loan services—provides a wealth of information about the sentiment of the average person that has invested in Bitcoin.
Out of the 564 American investors into Bitcoin that responded to the survey, 67% of them have not sold their investments at all.
Perhaps the most logical explanation for this phenomenon is that they’re holding onto their investment until they see the price of Bitcoin rise to such a level that they are satisfied with the return they would have on it.
Things get clearer as we go over the survey’s data:
“On average, respondents reported that they would be willing to sell all of their Bitcoin investment at $196,165.79 per Bitcoin.”
If we can assume that this large number didn’t come out of the fact that a majority of the respondents were just throwing random numbers, then this means that Americans who invest in Bitcoin tend to be very optimistic about it.
Interestingly enough, more than 80 percent of these proud Bitcoin holders plan to continue holding onto their investment over a year from now.
Over 10 percent have said that they would like to hold on for another ten years, suggesting that they are highly optimistic about Bitcoin’s long-term viability.
Last month, LendEDU also asked a thousand Americans about their awareness of ICOs, Ethereum, Ripple, and Bitcoin. It turned out that three-quarters of them have never heard of ICOs, but a few more (31.6 percent) know about Ether.
After Bitcoin blew the $8,000 mark out of the water this week, it seems as if its popularity will continue to grow among younger investors and people who wish to possess a currency that—for the time being—grows continuously.