Survey Says Bitcoin Holders Won't Sell Until Well Over $100K

Three surveys in as many months of residents in the United States, encompassing more than 2,500 people, reveal growing interest in bitcoin and cryptocurrencies. The latest survey introduces eye-popping specifics regarding general belief in bitcoin’s power and a hodl strategy that’s nearly unimaginable.

Also read: Survey Respondents Say Bitcoin to Reach $10,000

Lendedu Survey Results Urge Optimism

Lendedu, provider of transparent private student loan programs, commissioned a series of three surveys on the subject of cryptocurrencies and US residents’ attitudes. Each of the first two comprised 1,000 respondents, and covered bitcoin, ether, and ripple. The third in as many months, released 15 November 2017, halved the previous respondent numbers to focus exclusively on bitcoin investors.

The online poll was conducted by Pollfish, a 24/7 online survey platform utilizing mobile applications, over five days: 9 November through 13 November.

Lendedu stresses it “was not compensated by a third-party for running this survey,” and has “no financial relationships with any companies who market Bitcoin or cryptocurrency products.” As of the third survey’s publication, “none of the employees on Lendedu’s editorial team own Bitcoin,” they note.

Out of the gate, its first question was to ask why respondents were invested in bitcoin. Of the available choices, from store of value to its price, and even the bandwagon effect of friends and family, over 40 percent chose, “I believe Bitcoin is a world changing technology.”

Now that is Hodl Philosophy

“On average, respondents reported that the current value of their Bitcoin investment was $2,930.85,” the poll claims. “At the time of the survey completion, the price per Bitcoin was $6,490.”

More than half profess not to worry about security aspects of bitcoin, and two-thirds have yet to sell any of their bitcoin. Only 35 percent refuse to report bitcoin earnings to the IRS.

The one statistic that really jumps out is the final question’s answer. It asks at what price “would you be willing to sell all of your Bitcoin investment?”

“On average,” the poll reveals, “respondents reported that they would be willing to sell all of their Bitcoin investment at $196,165.79 per Bitcoin.” Considering the average respondent is apt to have bitcoin for only three years, this might show how utterly bullish investors are.

The survey did find “over 21 percent of Bitcoin investors are planning to hold their investments for over seven years, with 11.70 percent of those planning to hang onto their Bitcoin for over 10 years.”

What do you think of the survey’s results? Tell us in the comments below!

Images courtesy of: Pixabay, Lendedu, Pollfish

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