10% of Women Choose Crypto as Their First Investment: Blockfi Survey

A survey conducted by BlockFi shows that female generation Z and millennials who are new to investments are willing to put their money in crypto before anything else.

This October 24, U.S-based cryptocurrency company Blockfi released its latest edition of a crypto survey focused on assessing women’s investment patterns. The results showed that one in ten women picked cryptocurrencies as their first investment.

Besides those results, a previous research, the Real Talk: Women x Crypto 2.0 survey, conducted in March of 2022, found that 33% of the women who already had invested started their journey with cryptocurrencies.

Among the respondents, 17% are millennials, while 11% are Generation Z or post-millennials. The survey aims for the data to generate honest and “real” conversations about the cryptocurrency world, its current state, and where it is headed in terms of overall adoption.

10% of Women Hold Crypto

According to the survey, 10% of women have invested in cryptocurrencies. In comparison, the vast majority (33%) expect to invest in retirement funds as their first entry into the market.

BlockFi’s founder and COO, Flori Marquez, said that the data shows how appealing crypto is to female investors, to such an extent that even older women have changed their conservationist stance to invest in an asset that has been portrayed as extremely risky and volatile.

“The latest edition of BlockFi’s Women x Crypto survey data reveals that many women are looking to the crypto markets to make their first investment. And while the younger, digitally-native generations are more likely to adopt crypto, Gen X and Baby Boomers are also open to participating. It’s exciting to see crypto adoption across generations.”

She also added that she hopes the numbers grow as time goes by.

20% of Generation Z Believe Bitcoin Is the Best Long-Term Option

Although a major part (41%) of Gen Z women prefer to invest in real estate, 20% indicated that the best long-term investment is Bitcoin, suggesting a “solid long-term outlook for the asset class.”

In addition, 69% of the women surveyed said they bought cryptocurrencies for long-term holding.

While the survey demonstrates women’s increasing interest in investing and adopting cryptocurrencies, Marquez highlighted that there is still a lot of “significant disparity between women who feel confident and secure in their investments and those who don’t.”. Hence, work needs to be done to close that gap by creating a more inclusive and educational community that will encourage more women to enter the ecosystem.

As for women’s favorite cryptocurrencies, the majority of respondents said their favorites are Bitcoin (71%), Dogecoin (42%), and Ethereum (18%).