Survey: Bitcoin investors won’t sell until price nears $200k – Coindesk

Coindesk reports the findings of a new survey conducted by LendEDU of 564 respondents, highlighting the factors driving bitcoin buying.

Key Findings from the survey report:

Roughly 40% of participants said that they invested in bitcoin because they believe it is “a world-changing technology.”

Twenty-one percent of those involved say it’s because bitcoin is “a long-term store of value, like gold or silver”, with roughly 15% of those saying they bought in because a friend or family member recommended it. Those who said they think the price is “too low” accounted for 14% of respondents, while just 8% said they planned to use bitcoin as a payment method.

The survey also asked at which price participants would choose to sell their holdings. Perhaps unsurprisingly, the average of the amounts cited came out to a whopping $196,165.79 per bitcoin.

“We found that about a third, 32.62 percent, of respondents, have sold some of their Bitcoin since investing. However, we found that the majority of investors, 67.38 percent, have not sold any of their Bitcoin investments since purchasing,” LendEDU wrote in its report.