Do We Need More Adoption Or Investment to grow Crypto?
In general around 50% of Americans do not have any investments in the stock market (including individual stocks, mutual funds, and 401k plans).
Also, it's safe to say that the majority of stock investments are likely owned by the top 10-20%. In short, the Average American doesn't invest a lot.
Which makes sense. Our national savings rate is a puny 6%. And the truth is a lot of people are either confused about or afraid of the stock market. Plenty of others think it's a scam.
Of course, we still have institutional investors - banks and other large corporations and interests. But isn't cryptocurrency all about the little guy? About privacy and speed and avoiding the middleman (and his outstretched hand?).
We like to think technology is driven by investments, Silicon-Valley style. The truth is that adoption is where the real growth happens. Do you think Apple's stock price could go from $100 to over $400 a share without there being 700 million iPhones in existence?
If you tend to like to compare the current crypto markets to the dot com bubble, have you asked yourself which of your investments are most likely to become adopted enough to withstand an eventual crash/purge?
Nice information share thanks
The good news is the fact that the younger generation is heavily into bitcoin at the moment and the older investors are just now starting to catch on.
This means we should get the best of both worlds and as we progress through time there will be more and more tech savvy young people that will increase the amount of people that are currently investing.
To the moon!
This is a good point, also data shows that millennials save more than older generations - at least someone remembers the lessons of the Great Recession.