Bitcoin View: A Third of Americans Say It’ll Hit $100,000 by End of 2022
Bitcoin’s price stood at a little over $47,000 on Friday morning, down from $69,000 on Nov. 9.
But about a third of Americans see the current price doubling by the end of 2022 while nearly half think its price will rise, according to a new survey from Bitcoin IRA.
Roughly 1 in 3 survey respondents said they believed Bitcoin’s price would be above $100,00 at the end of 2022 and a bit more than 14% — a seventh — of those surveyed said they expect it to exceed $150,000.
Bitcoin opened 2021 at $29,388; that puts it up some 62% in 2021 to date.
Why Are People Buying Bitcoin?
About half (49%) of survey respondents said their speculation that crypto prices would rise was a motivating factor to add digital assets to their IRAs, according to the survey.
In addition, 25% (a quarter) of those surveyed “indicated that inflationary pressure is driving them to invest in cryptocurrencies as a hedge against rising prices.”
The pool of people surveyed consisted of a “randomized group of individuals comprised of the company’s clients, account holders, and customer prospects since 2016.”
That’s a group that has either purchased bitcoin through Bitcoin IRA, which enables people to hold the cryptocurrency in their retirement accounts, or have expressed an interest in doing that.
One quarter of respondents also said they expected to invest in cryptocurrencies in the next 12 months while 22% said they planned to do so in the next 30 days. More than half of those who took the survey have no plans to buy any crypto in the next year.
What Cryptocurrencies Do People Want?
Bitcoin IRA enables its customers to buy more than just bitcoin for their retirement accounts. They can also purchase other cryptocurrencies and the survey found that there were a few favorites:
- Solana, an ethereum rival, was the No. 1 most requested alternative coin (“altcoin”) for investing (excluding bitcoin and ethereum), with 54% of respondents selecting it.
- Other top requested cryptocurrencies included Polygon (MATIC), Polkadot (DOT), and Shiba Inu (SHIB).
“Between inflation, a crypto boom, and major advancements in the digital asset world, these are all factors that are forcing people to consider cryptocurrencies as we head into the new year,” said Chris Kline, chief operating officer of Bitcoin IRA.
“With key countries, institutions, and organizations across the world adopting digital assets in some form, Americans want to take part in a major shift happening in our economy.
“Crypto’s resilience and relevancy in 2022 will be driven by the runaway spending in Washington and an unstable dollar, as these coins offer an instrument of change to traditional fiat currencies run amok.”
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