Survey: 14% of 25-30-Year-Old Japanese Male Office Workers Own Cryptocurrencies

From NewsBTC

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A study has found that 14 percent of male Japanese office workers aged 25-30 are hodling cryptocurrencies despite market trends seeing prices taking a tumble.

Even though the price of bitcoin has fallen below the $7,000 mark again to $6,935, amid trade war fears between China and the U.S., that doesn’t appear to be deterring some male office workers in Japan from investing in the market.

So much so that a report suggests that 90 percent of the 4,374 participants surveyed nationwide last month indicated that owned digital currencies for investment purposes. Interestingly, instead of looking to stocks and bonds the younger generation are becoming more inclined to put their money into cryptocurrencies as a new means of investment.

The survey further found that those holding 50,000 yen, or $469, accounted for the largest percentage at nearly 25 percent. However, those who own more than one million yen, or $9,400, was down at 10.2 percent. Notably, during a time of bitcoin’s surge in value last year from October to December, this period accounted for the highest percentage purchase at 24.3 percent among 25 and 30-year-olds, the survey found.

For first time buyers, 15 percent of respondents indicated that they purchased cryptocurrencies after market prices had dropped following the hack at Tokyo-based crypto exchange CoinCheck. For many, however, regardless of what’s going on with the market at present, they still believe in the merits of holding on to their assets.

Read more: https://www.newsbtc.com/2018/04/04/survey-14-25-30-year-old-japanese-male-office-workers-cryptocurrencies/

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This is an interesting study that I wish I could read the original of. I wonder how much they are holding and which ones. If they are truly just hodling or if they are actually using and transacting with them. I also find the assertion that the USA vs China trade war is fueling a bear market. I personally don't see a connection since there has been rallying at the exact time the stock market was plummeting from the trade war fears.

Leave your thoughts in the comments below.

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