The Bank for International Settlements (BIS) says rich and educated investors prefer buying two large-cap altcoins over Bitcoin (BTC).
In a new report, the global financial entity owned by central banks looks at investor activity in the crypto space, broken down by education and income level.
“Among the various cryptocurrencies, owners of XRP and Ether are the most educated, while those owning Litecoin (LTC) are the least educated, with Bitcoin owners ranking in the middle. Cryptocurrency owners have a household income level higher than the average, with owners of XRP, Ether and Stellar (XLM) being the wealthiest.”
Only XRP and ETH holders outrank Bitcoin owners in both income and education. In terms of education, XRP, ETH and Bitcoin Cash (BCH) owners rank above Bitcoin investors. With regard to income, holders of ETH, XRP, LTC, XLM and EOS have superior rankings over Bitcoin owners.
The report says Bitcoin is the most widely owned cryptocurrency, followed by ETH and LTC. In terms of recognition, BCH comes second to the king crypto asset.
Based on these findings, the BIS provides an interesting outlook on crypto, according to the trends identified in cryptocurrency holders.
“While knowledge about cryptocurrencies is becoming pervasive, ownership remains limited to a niche population. In 2014, only some 40% of US citizens were aware of at least one cryptocurrency (mainly Bitcoin). This percentage increased to almost 70% in 2019.
If the trend continues, in one or two years, the entire US population will recognize at least one cryptocurrency. The acceptance and usage of cryptocurrencies are nonetheless not high. Only 1.4% of the US population owned at least one cryptocurrency in 2019.”Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
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