Few name cryptocurrency as best long-term investment: survey
Just 8 percent of U.S. adults questioned in a new survey said that cryptocurrency is the best long-term investment option.
The poll from Gallup found that 45 percent of respondents said real estate was the best investment followed by 18 percent who selected stocks and mutual funds. Fifteen percent said gold, and 10 percent said savings accounts or CDs. Just 3 percent said bonds.
Among investors over age 50 in the survey, only 2 percent selected cryptocurrency as their preferred long-term investment. Thirteen percent of 18- to 49 year-olds said the same.
Cryptocurrency was not provided as an option for half of the respondents. Among that group, most of the results remained largely the same, however the share of respondents who selected stocks and mutual funds as the best investment option rose to 24 percent.
Cryptocurrency was only just added this year as an option on the survey this year, which has been conducted since 2011.
The poll included 1,019 adults and was conducted between April 1 and April 19. It has a margin of error of 4 percentage points.
It comes as some people, including Berkshire Hathaway Vice Chairman Charlie Munger, criticize cryptocurrency options like bitcoin.
“In my life, I try to avoid things that are stupid, and evil, and make me look bad in comparison to someone else, and bitcoin does all three,” Munger said earlier this month.
Earlier this week, bitcoin’s price fell to more than half of its price at its November record high, marking the lowest price the cryptocurrency has traded at since last July.
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