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The crypto market showed substantial growth in 2021 with the significant entry of new investors. According to a survey by Grayscale Investments, most bitcoin holders bought the digital currency for the first time in the past twelve months.

A total of 1,000 people were interviewed in Grayscale’s survey about the cryptoasset adoption, and 25% of them said that they hold bitcoin investments. Furthermore, the study reveals that among the bitcoin investors surveyed, 55 percent of them stated that they bought the cryptoasset for the first time this year.

According to Bloomberg, the study shows that there has been an “explosive growth” in the crypto market in 2021, with the growth of new products such as non-fungible tokens (NFT) and the DeFi universe.

Bitcoin price doesn’t shake confidence

Although the bitcoin price has faced a significant devaluation recently, most cryptoasset investors started in the crypto market between 2020 and 2021.

In 2021 alone, for example, the bitcoin price has accumulated an appreciation of approximately 70%, even with the current price below US$ 50,000. For Grayscale, the cryptoasset can no longer be ignored by the market.

“It is becoming increasingly difficult for investors to ignore Bitcoin as its price continues to rise”.

Exchange replacing the stock exchange

Besides confirming the growth of new bitcoin investors, the survey presented by Grayscale shows that there is a major challenge for the adoption of the cryptoasset in the market.

About 80% of respondents stated that they want to invest in bitcoin, but first, this would require the creation of a fund with exposure to a regulated cryptoasset, being traded through exchanges.

The study also noted a change in the behavior of the future cryptoasset investor, who by 2020 wanted to trade bitcoin in regulated funds through the stock exchange.

According to the study, this scenario is changing, and now 60% of users said they prefer to trade cryptoassets through apps like exchanges.

Aged between 25 and 64, Grayscale’s survey heard users who have household incomes of at least US$ 50,000 and personal investments in the financial market of US$ 10,000 and up.