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Report: Investors in 26% of Countries Worldwide Favor ETH Over BTC

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Investors
06
May
    • A recent report released by CoinText concluded that ETH investors outnumber BTC investors in 26% of the countries worldwide, including the USA.
    • The report also mentioned that the number of Americans who invest in Bitcoin are outnumbered by the number of DOGE investors.
    • Another finding included in the report is that Argentina possesses a higher portion of BTC investors than any other country.

A report has recently been compiled and released by CoinText, and is a study of cryptocurrencies across nations. Findings released in the report concluded that Ethereum (ETH) investors outnumber Bitcoin (BTC) investors in 26% of countries worldwide. One of the countries where this is the case is USA.

The data used in CoinText’s study dates from January 2022 and is derived from a survey of 27 countries. The results shown in the report are weighted using Google’s interactive ranking process, and the coins examined in the study include Bitcoin, Ethereum, Solana, Dogecoin and XRP.

According to the CEO of Investoo Group, the parent company of CoinText, David Merry, “The study is an intriguing look at the psychology of crypto investors in different countries, and how alternate economic landscapes can shift sentiment to and away from Bitcoin and other coins.”

The report also mentioned that the number of Americans who invest in Bitcoin are not only outnumbered by the number of ETH investors, but by Dogecoin (DOGE) investors as well, as the USA was identified as the country containing the highest number of DOGE investors worldwide.

This is a stark contrast when compared to Argentina who possesses a higher portion of BTC investors than any other country. The dominant BTC adoption in Argentina could be citizens responding to the crippling inflation that is currently thwarting the South American nation.

Additional findings in the report show that Japanese investors favor Solana over Ethereum, which could suggest that they are firm believers that Solana is the better platform of the two. Meanwhile, Singapore crypto investors appear to be the most bullish nation on Ethereum.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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