Every niche has a stereotype that goes with it as everyone has their own personal perception of people associated with a specific pastime or group. So for example, a general perception of Classical music is generally seen as a type of music that is enjoyed by rich and famous, but there are many people like to listen to classic music to relax and while studying.
Some stereotypes are more accurate, for example the statement that most Manchester United fans don’t live in the city of Manchester. This is of course correct, as Manchester United is a famous club known everywhere in the world. On the other hand, bingo has always been viewed as a game that is enjoyed by elderly women. But the truth is, the game is played by an audience of all ages and both genders, especially with the introduction of the internet and ambitious mobile brands like mFortune Bingo.
How true is the stereotype of cryptocurrency investors? Clovr, a company looking to promote and make the blockchain technology mainstream, conducted a survey of more than 1,000 Americans. The results suggested that the average cryptocurrency investor is a young and rich male who earns over $75,000 a year. This isn’t surprising, cryptocurrency is a recent phenomenon based on the internet, so will be embraced by young people who are quite technical. That they are rich too also makes sense, given that Bitcoin hit $20,000 a coin in 2017, meaning anybody who invested significantly before could have returned over a thousand times what they put in. Males are regarded to take risks more than women, so the general stereotype of a cryptocurrency investor seems right.
However, investing in cryptocurrency isn’t just something that appeals to young rich males. Martial Arts Instructor Ivan Rakitic, who is aged 48, so in ‘Generation X’, enjoys investing in Bitcoin. The gentleman sees it as a way to fund his retirement, and believes other people his age enjoys it too. There are many in his age group that regard it as a viable alternative to working a standard 9-5 job and removes dependency on the banks. He said “I think people around my age are looking where they can put their money into something that can be secure and where the banks aren’t involved. I just think they have been ripping us off for a millennium, and if someone else and I can trade between ourselves, all the more power to us and less to them.”
Lalita Ponnuthurai, aged 24 is a student who manages a portfolio of cryptocurrencies. She is a female in the Cryptocurrency investor world, making up just 5-7% of those who invest. She first started investing when a friend bought some Ethereum coins for $12 and it quickly rose to $900 a coin. She has spoken about how meet ups in the industry don’t make her feel very welcome, as they are usually at least 90% male.
Ivan and Lalita are two examples to show that cryptocurrency is something that can be enjoyed by people of all different backgrounds and not just young rich men. It’s a volatile world, but the commitment of all different types of industry to start using cryptocurrency would suggest that it is here to stay and is an exciting adventure for anybody to embrace.
