22% of German cryptocurrency investors think digital currencies could help them get rich overnight.
According to a KuCoin research, 49% of German crypto investors believe digital currencies could help them achieve long-term wealth accumulation plans. Every fourth thinks the asset class could serve as a store of value amid the current economic turbulence.A Closer Lookthat Millennials account for 51% of the total number of cryptocurrency investors in Germany, while Generation X is second with 30%.
The biggest share of people hopped on the bandwagon less than three months ago, whereas 15% have done so in the past half a year. One possible reason behind that interest could be crypto’s revival since the start of 2023. Bitcoin, for example, finished 2022 at around $16,500, while currently, it is well above the $30,000 level.Every fourth German crypto investor entered the ecosystem to diversify their portfolios.
Unsurprisingly, Bitcoin is the primary crypto investment choice for locals, with 64% of the investors having exposure to it. 40% have bought Ethereum , while 26% have bought NFTs.
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