Most crypto-investors are white, male, and make six-figures. A new survey shows that could be changing.
Gemini, a popular cryptocurrency exchange and issuer of a Bitcoin rewards credit card, released a report this month looking at the crypto habits of 3,000 U.S. adults between the ages of 18 and 65, with $40,000 or more in household income.
Within this sample, the report found that the average cryptocurrency owner is a 38-year-old male making approximately $111,000 a year.
In addition, 74 percent of crypto holders are men, and 71 percent are white.
While this profile matches popular understandings of the male-dominated technology and finance worlds, there are hints in the data that cryptocurrencies could soon attract a wider audience.
The survey found that while 14 percent of the sample are crypto-owners, 63 percent are "crypto-curious," and more than half of these (53 percent) are women.
In addition, within that 53 percent, a quarter are women who are 55 years or older.
"This shift in gender, age, average income, and location indicates that crypto is starting to broaden its appeal away from an investment solely reserved for those with a large amount of assets to one that is more mainstream and accessible for the average person." the report said.
Gemini also anticipates a wave of crypto-investing over the next year, as currencies such as Bitcoin and Ethereum continue their historic rallies.
The survey found that 13 percent of respondents plan to purchase crypto in the next 12 months. Extrapolated to the general population, that's 19.3 million adults, which would mean a doubling of the current number of crypto-investors.
The vast majority of these potential investors (95 percent) are aware of Bitcoin, while 38 percent are aware of Ethereum.
Though Gemini's survey was demographically limited, the overall trend lines seem clear.
"Given what we know about the demographics of the crypto-curious audience, the profile of the
average crypto holder could also soon be changing in a very welcome way," the report said. "The future of crypto looks bright, and we are excited about the influx of a more diverse audience to continue to shape that future."
