- Eight percent choose cryptocurrency as the best long-term investment
- Real estate prospects; stocks and gold are next
- Young adults are more positive about cryptocurrency
WASHINGTON, DC — Eight percent of American adults choose cryptocurrency as the best long-term investment from a list of six investment options. Cryptocurrency is tied with savings accounts or CDs (10%) but far behind real estate (45%), stocks (18%) and gold (15%). Americans are least likely to say bonds are the best investment.
Cryptocurrency is a digital asset that is not issued or guaranteed by any bank or government authority; it can be purchased, exchanged and used for cash like other investments.
Since 2002, Gallup has regularly asked Americans to name what they consider to be the best long-term investment among various options, adding gold to the list in 2011 and cryptocurrency this year. The sample of 1,019 adults from the April 1-19 poll was randomly divided. Half of the respondents were asked for the 2011-2021 formulation which includes real estate, stocks, gold, savings accounts and bonds; and half were offered a choice of cryptocurrency in addition to these five options.
Real estate was the top option for both samples, receiving 45% of the votes in each version of the question. Most votes for cryptocurrency come at the expense of stocks, chosen by 24% of those who weren’t polled about cryptocurrency and 18% of those who were.
The results of other investments changed by one percentage point, if at all, when cryptocurrency was included.
Young investors are more positive about cryptocurrency
Cryptocurrency is more attractive to younger investors, with 13% of those under 50 saying it is the best investment, compared to 2% of those over 50. In fact, cryptocurrency is tied to stocks as the second-best investment choice among adults under 50. , behind real estate.
Real estate is the top option among both age groups, although young adults (53%) are much more likely than older adults (37%) to believe it is the best choice for a job. investment. Older Americans are more likely than younger Americans to believe that stocks and gold are the best investments.
Ownership just below 60%
The April 1-19 poll also provides Gallup’s annual update on US shareholding. He finds that 58% of Americans report owning stocks, slightly more than in recent years but not a statistically significant increase.
Prior to the Great Recession, equity ownership consistently exceeded 60% on average among American adults, but it has been at that level since 2008.
Stock ownership is common among high-income Americans; 89% of those living in households with an annual income of $100,000 or more own stocks. That compares to 61% of middle-income Americans and 25% of low-income Americans. Most other demographic differences in ownership, such as education, race, and age, are likely related to income differences within these groups.
Cryptocurrency is a relatively new investment option. Overall, Americans don’t yet consider it one of the best investment options, but that may change in the future, as many young adults already consider it a viable investment choice. Bitcoin, arguably the most well-known cryptocurrency, is currently worth around $30,000 per unit and was worth over $60,000 per unit at the end of last year. However, other cryptocurrencies are worth less than a dollar.
For now, with US home prices at record highs, Americans continue to view real estate as the best investment. The real estate market remains vigorous, but these record prices combined with higher interest rates could weaken it. Indeed, for the first time, a majority of Americans say now is a bad time to buy a home. If the real estate market softens, people might start looking at other options as the best investment, as they did after the housing crash of the late 2000s.
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Post expires at 10:32pm on Monday June 27th, 2022