Women today still don’t own traditional assets due to lack of wider adoption, but that’s not the case with crypto, a report from eToro suggests. The report titled “Retail Investor Beat” showed that cryptocurrencies happen to be the second most owned asset by women after fiat currency or cash.
Crypto arguably had its worst year ever in 2022, with overall global ownership jumping from just 36% to 39% in one quarter, despite this, adoption of this particular asset class has increased significantly among women.
The report shows that female ownership of digital assets increased from 29% in the third quarter of 2022 to 34% in the last quarter of 2022. This implies that somewhere investing in cryptocurrencies has made more sense for women than to invest or own traditional financial assets. assets.
The report was released after the eToro team surveyed nearly 10,000 global retail investors across 13 different countries. The survey also focused on finding that women are more likely to own cryptocurrency.
On the contrary, men barely increased their crypto ownership compared to women, as male ownership saw a 1% increase over the aforementioned period.
What Could Be The Reason For The Increase In Female Crypto Ownership
The increasing ownership of digital assets by women simply demonstrates that traditional financial markets have failed to include women more. For those who want to invest in crypto, the main reason is to get higher returns in a shorter time frame.
Some have also demonstrated faith and belief in the power of blockchain, as crypto may have the power to act as a transformative asset class in the future. And for those who have avoided investing in crypto, their biggest fear behind this decision is because of the perceived risks and volatility that are attached to the industry.
Some also said regulatory ambiguity has prevented them from investing in the asset class. It could simply mean that women take on more risk because they have invested in this asset class despite the risks and uncertainties of the industry.
Other populations interested in blockchain
The data also reveals that in addition to female risk takers who have been pro-digital assets, older investors have also shown strong interest in buying the dip.
The report suggests that retail investors holding crypto between the ages of 35-44 and 45-54 saw a 5% increase, showing that the older population has been accumulating this asset class.
When it comes to businesses, apart from retail investors, many companies have already started to take crypto investments seriously. Another recent report published by the blockchain company Casper Labs in partnership with Zogby Analytics reflected an interest in the use of blockchain by businesses in particular.
The survey of over 600 business decision makers in the US, UK and China showed that companies are beginning to invest in blockchain technology, in addition to retail investors already doing so.
87% of these organizations said they plan to invest in blockchain technology in the next year. And among the countries surveyed, the results were in favor of China, with more than half of respondents showing an interest in investing in blockchain.
Featured image from UnSplash and eToro, chart from TradingView.com