Traders Union research: Half of investors see Bitcoin as speculative asset

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Half of investors see Bitcoin as speculative asset

Why Bitcoin has not replaced gold yet

Traders Union data shows that during periods of uncertainty, investors still tend to choose traditional defensive instruments. In hypothetical crisis scenarios, 38% of respondents preferred gold, 34% chose U.S. dollars or cash, and only 18% said they would increase their Bitcoin allocation.

A similar pattern appears during periods of high inflation. Despite the popularity of the idea of BTC as protection against monetary debasement, most investors still rely on more familiar assets. This suggests that Bitcoin may be perceived as a potential long-term hedge, but in practice many investors do not yet use it as a full replacement for gold or cash reserves.

Who trusts Bitcoin more

The study also found notable differences across age and income groups. Younger investors are significantly more likely to view Bitcoin as a long-term store of value. Among respondents aged 18–34, 41% consider BTC “digital gold,” compared with 24% among those aged 35–49 and only 13% among investors over 50.

Income also affects attitudes toward Bitcoin. Among high-income respondents, 36% are ready to allocate part of their savings to BTC during inflationary periods. Among middle-income investors, the figure is 21%, while among lower-income participants it is 11%. This shows that trust in Bitcoin as a long-term asset is stronger among those who can afford to take on a higher level of risk.

What prevents Bitcoin from becoming “digital gold”

Volatility remains the main barrier to perceiving BTC as a defensive asset. 71% of study participants named sharp price swings as the main reason they are not ready to fully trust Bitcoin as an equivalent to gold.

Other risks also remain significant. 42% of respondents pointed to regulatory uncertainty, 33% cited security risks and hacks, 29% mentioned the lack of intrinsic value, and 24% expressed concerns about market manipulation.

At the same time, investors do not completely reject the idea of Bitcoin as a defensive asset. 44% of respondents believe BTC has such potential but remains too volatile. Another 32% said Bitcoin is still mainly a speculative asset. Only 18% of survey participants believe BTC already functions as “digital gold.”

The authors of the study concluded that Bitcoin currently occupies an intermediate position between a speculative growth asset and an emerging macroeconomic instrument. Its role in portfolios may strengthen as institutional participation, ETF products, and regulation continue to grow, but the mass perception of BTC as true “digital gold” remains incomplete.

As a reminder, a previous Traders Union study found that 43% of traders use AI-based bots and signals.

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