Consumers are more interested than ever in Bitcoin products from their bank. Our findings suggest that 46MM+ Americans own Bitcoin today. That’s more than 22% of adults over the age of 18. The increasingly widespread adoption of Bitcoin, with little involvement from banks, has caught many by surprise. Some banks may wonder if consumers simply don’t want to intermingle the two. However, our consumer research points to a vastly different conclusion.
We think it is safe to say that the Bitcoin “train” has left the station. But the passengers want banks–their trusted financial providers–to get them on board. The data shows that not only would consumers feel more comfortable buying and holding their Bitcoin with a bank, but that they desire BIGGER and BOLDER opportunities. NYDIG believes that Bitcoin + Banking should be SYMBIOTIC.
Banks can play a pivotal role in the transformation happening in the financial industry. Yes, banks can help consumers feel safe investing and storing their Bitcoin; it is good for consumers, good for banks, and good for Bitcoin. However, we believe that banks can play an even more critical role in the evolution of Bitcoin by making it accessible in novel ways. Up to this point, Bitcoin could only be acquired through investing in it or mining it. With the power of Bitcoin + Banking, Bitcoin can be made accessible in new and creative ways, like interest payments or rewards programs. We believe that a strong financial system is one based on equity and that forward-thinking banks can deliver just that.
This report has been prepared solely for informational purposes and does not represent investment advice or provide an opinion regarding the fairness of any transaction to any and all parties nor does it constitute an offer, solicitation or a recommendation to buy or sell any particular security or instrument or to adopt any investment strategy. Charts and graphs provided herein are for illustrative purposes only. This report does not represent valuation judgments with respect to any financial instrument, issuer, security or sector that may be described or referenced herein and does not represent a formal or official view of New York Digital Investment Group or its affiliates (“NYDIG”).
It should not be assumed that NYDIG will make investment recommendations in the future that are consistent with the views expressed herein, or use any or all of the techniques or methods of analysis described herein in managing client accounts. NYDIG may have positions (long or short) or engage in securities transactions that are not consistent with the information and views expressed in this report.
There can be no assurance that any investment strategy or technique will be successful. Historic market trends are not reliable indicators of actual future market behavior or future performance of any particular investment, which may differ materially, and should not be relied upon as such. Target or recommended allocations contained herein are subject to change. There is no assurance that such allocations will produce the desired results. The investment strategies, techniques or philosophies discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation.
The information provided herein is valid only for the purpose stated herein and as of the date hereof (or such other date as may be indicated herein) and no undertaking has been made to update the information, which may be superseded by subsequent market events or for other reasons. The information in this report may contain forward-looking statements regarding future events, targets, or expectations regarding the strategies, techniques or investment philosophies described herein. NYDIG neither assumes any duty to nor undertakes to update any forward-looking statements. There is no assurance that any forward-looking events or targets will be achieved, and actual outcomes may be significantly different from those shown herein. The information in this report, including statements concerning financial market trends, is based on current market conditions, which will fluctuate and may be superseded by subsequent market events or for other reasons.
Information furnished by others, upon which all or portions of this report are based, are from sources believed to be reliable. However, NYDIG makes no representation as to the accuracy, adequacy or completeness of such information and has accepted the information without further verification. No warranty is given as to the accuracy, adequacy or completeness of such information. No responsibility is taken for changes in market conditions or laws or regulations and no obligation is assumed to revise this report to reflect changes, events or conditions that occur subsequent to the date hereof.
Nothing contained herein constitutes investment, legal, tax or other advice nor is it to be relied on in making an investment or other decision. Legal advice can only be provided by legal counsel. Before deciding to proceed with any investment, investors should review all relevant investment considerations and consult with their own advisors. Any decision to invest should be made solely in reliance upon the definitive offering documents for the investment. NYDIG shall have no liability to any third party in respect of this report or any actions taken or decisions made as a consequence of the information set forth herein. By accepting this report in its entirety, the recipient acknowledges its understanding and acceptance of the foregoing terms.
Methodology
This poll was conducted by SurveyMonkey on Jan. 6-7, 2021 among a national sample of 2,184 US consumers. Respondents for this survey were selected from the nearly 3 million people who take surveys on the SurveyMonkey platform each day. Data have been weighted for age, race, sex, education, and geography using the Census Bureau’s American Community Survey to reflect the demographic composition of the United States. This poll has a margin of error of +/- 2.1 percentage points.
Bitcoin was explicitly designed for today’s market environment, and it delivered strong performance in the first quarter of 2023. Bitcoin ended the quarter above $28,000 and up 72% YTD, making it bitcoin’s best performing quarter since 1Q21.
We take a look at the first quarter of 2023 and the news that shaped it as well as important events in the future.
Bitcoin ended 2022 down over 60%, which ranks as bitcoin’s second worst performing calendar year since the asset began trading in 2009.
© 2023 FS | NYDIG
This website is provided for informational purposes only. None of the material on FSNYDIG.com is intended to be, nor does it constitute, a solicitation, recommendation or offer to buy or sell any security, financial product or instrument. Investors should conduct their own analysis and consult with professional advisors prior to making any investment decisions. Bitcoin investments have historically been highly volatile and are for investors with a high risk tolerance. Investors in bitcoin could lose the entire value of their investment.