Bitcoin keeps going up and up. As of this writing, the price of a single bitcoin is close to $12,000. The cryptocurrency has gained roughly 10 times in value since the start of the year, and it continues to shatter previous record highs month after month. In the midst of the buzz among investors about the leading digital currency, there is a new report published by LendEDU detailing the results of a survey of bitcoin investors which offers some insight into how these investors plan to treat their holdings going forward. One of the more notable takeaways from the report, which was covered in-depth by Coindesk, is the fact that the average per-coin amount investors surveyed indicated they would choose as a sell point was just shy of $200,000 per bitcoin.

$196,165.79

The biggest news from the survey is that, when asked at which price they would decide to sell their bitcoin holdings, the average of amounts that respondents indicated was a massive $196,165.79. Bitcoin has been climbing in value by tremendous leaps so far this year, but it certainly has a long way to go before it reaches that peak. This is in keeping with LendEDU's findings, suggesting that "the majority of investors, 67.38%, have not sold any of their bitcoin investments since purchasing." The average investor owned just under $3,000 in bitcoin at the time of the survey, or roughly half of one coin. 16.5% indicated plans to sell within a year, while 20% suggested they would hold onto bitcoin for at least 7 years.

Bitcoin as "World-Changing Technology" or "Long-Term Store of Value"

According to the survey, which included responses from 564 poll-takers, about 40% of participants indicated that they had decided to invest in bitcoin because they believe it to be a "world-changing technology" which would alter the face of the business and investment landscapes for the foreseeable future. Another 21% of those surveyed suggested that they had bought bitcoin because it is "a long term store of value, like gold or silver." This 21% of investors surveyed seem to feel that bitcoin is best viewed as a powerful new investment vehicle, perhaps rather than as a game-changing bit of technology. Further, 15% of respondents indicated that they had decided to buy bitcoin simply because a close friend or family member had recommended it, while 14% bought in because they estimated that the market value was "too low" at the time.

While many investors surveyed suggested they had faith in bitcoin as a long-term investment vehicle, some of the most prominent names in the traditional investment world have opined otherwise. Most recently, Jack Bogle, the founder of Vanguard, came out strongly against the cryptocurrency.

 

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