We recently ran a new survey to learn more about our Bitcoin Market Journal community. The results may surprise you. (At least, they surprised us.)
The problem we’re trying to solve is the wide range in crypto knowledge among our investing community: we serve everyone from crypto beginners to crypto billionaires. I’ve called this wide range the “Crypto Understanding Continuum,” or CUC:
We are currently redesigning Bitcoin Market Journal to better direct our community to the most helpful content. (There’s no sense in teaching you How to Buy Bitcoin if you already hold $ 1M of it.)
So, we first designed a flowchart that asks a few simple questions, and directs readers to helpful content for their knowledge level. You can think of the left column of questions as the “Crypto Curious,” and the right column as the “Crypto Confident.”
Who Are We?
The first surprise was how many of us fall into the “Crypto Confident” category. This may seem obvious (this is a crypto investor newsletter, after all), but I had expected more crypto beginners. I was wrong. This is a community of experts:
Fully half of us are currently earning yield on our crypto assets, which is even more advanced:
Of those advanced investors, two-thirds are using DeFi products:
Of those investors, 70% own NFTs:
And of those, half actively trade:
The takeaway is that we are a sophisticated bunch of investors. This knowledge is valuable, as it will help us better orient our future content to yield farming, NFT collecting, and other advanced investing strategies.
What We Own
Surprisingly, more of us own Ethereum than Bitcoin, followed by Cardano, Solana, and Polkadot:
How Much Crypto We Hold
The most surprising finding is how much our community owns in crypto assets. When we ran our last reader survey a few years back, the average crypto investment portfolio was around $ 20,000. Today, our average portfolio has skyrocketed to $ 1 million.
There is an outlier on the survey (ie, a single whale) that may have skewed these numbers, but even after removing that response, the average crypto portfolio has grown to nearly $ 200,000, or ten times what our readers held a few years ago.
From $ 20K to $ 200K: This is the power of long-term investing!
To sum up, we are an expert community of crypto investors. This is both gratifying and humbling, as it challenges us to step up our game – and to develop more ways for you, the community, to teach us a thing or two.
Thanks for taking our survey; we learned a lot. Now we’ll use the results to help this community learn even more.