Wealthy and Educated Investors Prefer Two Altcoins Over Bitcoin
According to the Bank for International Settlements (BIS) rich and highly educated investors prefer buying two large-cap altcoins over Bitcoin.
A recent report, the global financial entity owned by central banks covers investor activity in the crypto landscape, 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.”
Two altcoins, XRP and ETH outrank Bitcoin by ownership in both income and education categories. In education, XRP, ETH and Bitcoin Cash (BCH) holders rank above Bitcoin investors. With regard to income, ETH, XRP, LTC, XLM and EOS have better rankings over Bitcoin owners.
According to the report Bitcoin is the most widely owned cryptocurrency, followed by ETH and LTC. In terms of recognition, BCH comes second to the number one crypto asset.
In the report, BIS gives 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.”
