New research from consumer data aggregator CivicScience has found that more and more investors are selling their stocks to buy more cryptocurrencies.
Research questions were sent to individuals over the age of 18 in the United States at various times in 2021. Results are weighted based on U.S. Census data. Each question has between 1,000 and 40,600 respondents.
Among the 3,700 respondents to the survey, the number of people who said they were more likely to invest their money in cryptocurrencies than traditional stocks has increased by 140% in just five months.
Back in June, only 10 percent of respondents said they were more likely to invest their money in cryptocurrencies than traditional stocks, a figure that rose to 24 percent in November.
Interestingly, those who said they followed financial markets and the economy “very closely” or “somewhat closely” were more likely to trade their traditional assets for cryptocurrencies.
Of the 1,285 respondents who said they "watch the market very closely," 40 percent said they or someone they knew had sold their traditional stocks to buy cryptocurrencies.
That dropped to 30% for those who said they followed the market "somewhat closely" and about 17% for those who said they followed it "not at all closely".
Some 44% of the 1,988 respondents who sold stocks to buy cryptocurrencies said they sold less than 10% of their portfolio.
But about one in five sold more than half of their stock holdings to buy cryptocurrencies, which CivicScience's Zack Butovich called a "shockingly significant number." This might be a bit of a stretch, but it's certainly worth noting.
According to its website, CivicScience sources its data through digital and mobile content partnerships. Cointelegraph reached out to CivicScience for more details on its approach and is awaiting a response.
CivicScience also found that those not interested in blockchain technology continued to decline, from 80 percent in May of this year to 68 percent currently, based on 40,571 responses between May 1 and December 6.
Currently in real-world testing, the digital ruble is being piloted with a select group of consumers and involves the participation of 15 Russian commercial banks and a small number of small- and medium-sized retailers.
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