New research by UK investment firm AJ Bell shows that 7% of British adult respondents reported they had bought crypto over the last year, compared to 5% who invested in stocks and shares ISAs (individual savings accounts).
The research suggests that Britons have become more eager to invest in cryptocurrencies than in traditional stocks and shares-based investments.
“When more people are buying cryptocurrency than investing in a stock market ISA, you have to conclude the world’s gone crypto crazy,” financial analyst at AJ Bell Laith Khalaf said about the results.
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According to the research, Britain’s crypto investors are predominantly male and under 35. More than 70% of those who said they had bought crypto assets claimed to have made a profit, while 12% reported making a loss in the past year. Meanwhile, 17% said they did not even know if they had made a profit or loss with their crypto investments.
The survey, however, contrasts with UK think tank Parliament Street’s research from March which reveals that 52% of the 2,000 respondents in its survey were more likely to invest in the stock market and traditional assets, such as gold, than in crypto. A third of the respondents said they will not invest in crypto as they believe they have already “missed the boat.”
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