Survey: 30% of Londoners Plan To Invest in Crypto, More Than Twice The National Average

According to a recent survey by Atomik conducted in the United Kingdom, 30% of Londoners surveyed have plans to invest in cryptocurrencies in the near future, twice the national average of 13%.

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According to a recent survey by Atomik conducted in the United Kingdom, 30% of Londoners surveyed have plans to invest in cryptocurrencies in the near future, twice the national average of 13%.

Londoners are more likely to invest in cryptocurrencies

The survey was conducted by Atomik, a New York-based digital services firm in the stead of Rathbone Investment Management.

The survey, which was conducted using a sample of 1503 adults from across the United Kingdom, found out that Londoners have a greater propensity to invest in cryptocurrencies.

According to Robert Hughes-Penney, the investment director at Rathbone IM, Londoners have a greater tendency to invest in cryptocurrencies because of a higher public awareness in last year’s incredible market explosion. He explained:

“Lucrative returns made by the early adopters of bitcoin and other cryptocurrencies have been widely publicized. These early investors have been followed by others looking to make similar gains.”

Details of the survey

The survey found out that 37% of adults under 35 were interested in investing in digital assets, while only 4% of people aged 45 and over had considerations of investing in cryptocurrencies.

According to the survey, 13 percent of all cryptocurrency investors in London attributed their current wealth to previous investments in digital assets like Bitcoin and Ethereum compared to a just 4 percent in other parts of the UK.

Robert Hughes-Penney in commenting on the result of the survey stated that:

“These figures suggest there are a number of investors in London with shorter investment goals who have been more susceptible to the so-called bitcoin craze, while outside of the capital investors have mostly stayed clear of what is a high-risk asset class.”

The also found that although Londoners have a greater tendency to invest in digital assets, a greater percentage of their population have their money saved in traditional investments like savings accounts or stocks and shares.

These results do not appear very shocking. Surveys carried out in other parts of the world have reported that younger people, especially millennial males, have a higher tendency to invest in cryptocurrencies.

Growing interests in cryptocurrencies

Over the last couple of months, London has attracted some big names in the crypto industry, with Coinbase expanding its services on the market and emerging reports that Gemini is planning to follow suit.

In June, a survey conducted by real estate developer Get Living, more than a quarter of UK male millennials prefer Bitcoin to real estate investment.

Another independent survey conducted by Blockchain Capital confirmed this when it reported that millennials view digital assets as a more promising opportunity than purchasing physical property,  stocks, government bonds, and gold.

A SharesPost survey reported in July that 72% of cryptocurrency investors plan to buy more cryptocurrency this year, and a great percentage of the population expecting mass adoption of cryptocurrencies by 2025.

Regardless of the bearish trend that has plagued the crypto market all year, the results from several surveys affirm that cryptocurrencies are growing in popularity, and more than ever before, individuals are willing to invest in the industry.

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