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Survey: Younger Koreans More Likely to Invest in Crypto
Nearly a quarter of South Koreans in their 20s want to invest in cryptocurrencies, according to a new poll conducted by Bank of Korea.
By Nikhilesh De
Updated Sep 13, 2021, 7:45 a.m. Published Mar 28, 2018, 5:00 p.m.
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Nearly a quarter of South Koreans in their twenties want to invest in cryptocurrencies, according to a new poll conducted by Bank of Korea.
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reported Tuesday that the bank's survey examined cryptocurrency awareness among 2,511 Korean residents, with the age of the respondents ranging from people in their twenties to their seventies.
Notably, the survey found that roughly 30% of people in their twenties and 40% of those in their thirties are familiar with cryptocurrencies, while only 21.6% of the overall group was aware of the tech.
Perhaps unsurprisingly, the numbers were not as high among the older generations: only the older generations, 5.7% of people in their sixties and 2.2% of people in their seventies had any knowledge of cryptocurrencies.
Younger survey participants also displayed a greater appetite for investing in cryptocurrencies. Some 24.2% of those in their twenties said they were "eager to invest in cryptocurrencies," according to Yonhap, compared to 20.1% for those in the thirties age-group.
Yonhap noted that an estimated 2 million people currently own cryptocurrencies in South Korea, or about 4% of the country's roughly 52 million residents, which is perhaps reflective of the fast-growing market for trading there.
And while Korean officials have reportedly raided three different exchanges as part of a larger embezzlement probe – signaling that regulators have no plans to stop policing the space – other firms are entering the market to capitalize on the interest.
The company behind Kakao Talk, the country's most popular messaging app, confirmed this week that it is launching a blockchain-focused subsidiary. At the same, it rejected rumors that it is preparing to launch a cryptocurrency and associated token sale.
Crypto tokens image via Shutterstock
Higit pang Para sa Iyo
‘Bitcoin to zero’ searches spike in the U.S., but the bottom signal is mixed
Google Trends data shows the term hit a record high in the U.S. this month, though global interest has fallen since peaking in August.
Ano ang dapat malaman:
- U.S. searches for “bitcoin zero” on Google hit a record high in February as BTC slid toward $60,000 after hitting a peak in October.
- In the rest of the world, searches for the term peaked in August, suggesting fear is concentrated in the U.S. rather than worldwide.
- Similar U.S. search spikes in 2021 and 2022 coincided with local bottoms.
- Because Google Trends measures relative interest on a 0-to-100 scale amid a much larger bitcoin user base today, the latest U.S. spike signals elevated retail anxiety, but does not reliably guarantee a clean contrarian reversal.
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