Grayscale is saying that Bitcoin (BTC) remains the most popular cryptocurrency in the US but BTC investors are also betting on other digital assets.
In its third annual Bitcoin investor study, which surveyed 1,000 US consumers, Grayscale reports that the most popular altcoin among owners of BTC is the leading smart contract platform Ethereum (ETH).
The crypto titan says that 44% of Bitcoin investors invest in ETH. Ethereum is followed by Dogecoin (DOGE) with 44% of BTC owners also holding the original meme coin.
“Cryptocurrency investing is not a zero-sum game.
Most investors who own Bitcoin (87%) also have exposure to one or more altcoins.
The most popular altcoins to own include Ethereum, the go-to platform for DeFi [decentralized finance] and NFT [non-fungible token] projects, and Dogecoin.”
The report also shows that 26% of BTC holders own Litecoin (LTC), making it the third most popular altcoin on the list. LTC is followed by Cardano (ADA). Among Bitcoin investors who were surveyed in the study, 15% own ADA.
Bitcoin owners are investing in other digital assets as new tokens emerge in the crypto market amid the rising popularity of new crypto sectors, such as DeFi and the metaverse.
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Featured Image: Shutterstock/ProStockStudio/Natalia Siiatovskaia
