As the crypto winter continues, new data from BlockFi reveals that female investors remain bullish on cryptocurrencies, with 22% intending to buy in the next 12 months.
The decline of the crypto market is proving to be a severe storm for both investors and companies in the industry. However, according to new data, this hasn’t stopped women from being bullish on cryptocurrencies.
A new survey conducted by BlockFi, a cryptocurrency trading and investment platform, asked women in the United States about their opinion and involvement in the cryptocurrency industry between September 2021 and March 2022.
According to the findings, one in 10 women chose crypto as their first investment, with 17% of female millennial investors and 11% of Gen Z between 1965 and 1980, reporting crypto as their first investment.
However, as the data above revealed, more education and clarity around the space is needed for investors to feel safe and confident in their investments.
The survey highlighted that while the vast majority of women surveyed (81%) have heard of cryptocurrency, 77% still see it as a risky investment.
Flori Marquez, founder and COO of BlockFi, echoes the sentiment that education is key to bringing more women into the space:
“Knowledge brings empowerment and confidence.”
Despite both market and educational barriers, many women still see a place for themselves in the industry. More than one in five (22%) said they intend to buy crypto in the next year. 20% of Gen Z women rate Bitcoin as the “best long-term investment”, among others, in a list of investment opportunities.
Related: US Lawmakers Say Crypto Industry Has ‘Tech Sibling’ Problem Hurting Innovation
BlockFi survey data showed that women are indeed here to hoard, with 69% of female crypto owners saying they are holding crypto and just waiting.
Marquez said the current downturn in the crypto market is the perfect time to build on these communities of female hodlers.
“The best construction happens during bear markets. It is imperative that we use this time to build products and communities that are inclusive of all investors.
In May of this year, billionaire Tim Draper insisted that the next bull market will be driven by the adoption of female investors.