A new survey commissioned by LendEdu has shown that among 564 respondents, investors would only sell their Bitcoin at $196,166 per coin.
HODL (Hold On for Dear Life, or simply misspelled ‘hold’) is a commonly used phrase in cryptocurrency trading circles, and now a new survey commissioned by LendEdu has revealed that out of opinion canvassed from 584 Bitcoin investors, the average price respondents would be willing to part with their prized treasure would amount to $196,166 USD per coin.
The survey follows other reports published by LendEdu, where in 2015 over 65% of polled respondents in the US did not know what a Bitcoin was.
LendEdu’s most recent findings show that nearly a third of all respondents (32.62%) have at some point sold some of their holdings since they began investing, and that only 16.49% of participants indicated that they would be prepared to sell their Bitcoin within a calendar year.
21% of investors revealed that they plan to hold their coins for at least seven years, while 11.7% of respondents indicated that they would hold the cryptocurrency for ten years or a time period even longer than that.
Should Bitcoin reach the price of $196,166 USD per coin, it would amount to a near 26x increase in value from its present amount, which at the time of writing hovers at the $7500 USD mark.
The survey also canvassed opinion from respondents with regards as to whether Bitcoin is a store of value or speculative investment, the most popular choice (selected by 40.78% of respondents) was to express interest in Bitcoin’s underlying infrastructure, indicating that “…Bitcoin is a world-changing technology.”
The second most popular answer selected by 21.81% of respondents indicated that long-term storage of value was a compelling reason to invest in Bitcoin.
Lastly, over 44.15% of polled investors expressed worry over the technological safety of their holdings.
The full report can be found here.
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