Investor participation in the crypto market has been growing at an unprecedented rate over the last year! As a result, crypto exchange and trading platforms have been enjoying a massive rush of investors with trading volumes spiking to new highs.
The Bitcoin-focused digital asset manager – New York Digital Investment Group (NYDIG) – recently published a new survey that shows that a massive 46 million Americans are invested in Bitcoin. This is nearly 17% of the adult U.S. population, reports Newsweek.
The numbers have surely escalated faster as big players from Wall street join the Bitcoin bandwagon over the last few months. The survey includes a national sample of 1050 U.S. crypto investors with a minimum of $50,000 in annual income.
Including Bitcoin In Personal Finance and Insurance Annuities
The interesting this about the survey result was that a large number of respondents were keen enough to have Bitcoin (BTC) as part of their personal financial plans, including insurance! A massive 75% of the respondents said that they would be keen on learning about Bitcoin life insurance and Bitcoin annuities. As the Newsweek publication reports:
“The survey found great interest in Bitcoin. About half the respondents said they want to receive some or all of their insurance benefits in Bitcoin, NYDIG’s survey found. Nearly 90% said they had some interest in insurance or annuity products that have at least some indirect link to Bitcoin”.
Considering the massive volatility of Bitcoin, the idea of insurance companies investing in Bitcoin could be a bit buzz off considering insurance usually aim for stability. Although the investors’ demand is clear, it will be interesting to see how this could potentially affect the decision of investment decision of insurance providers.
The survey also asked respondents about their views if insurance carriers limited their Bitcoin exposure to under 2%. Nearly 40% called it “acceptable”, another 42% called it “okay”, and 15% said they didn’t like the idea. To generate good returns for their clients, insurance companies usually spread the risks across asset classes.