Survey: 1 in 10 women invested in crypto as their first investment (ever)

For 33% of women, investing in retirement funds was their first point of entry.

Jana Hlistova

Oct 30, 2022

Welcome to our #137 weekly newsletter.

“For women taking control of their financial future”

-Jana Hlistova

From The Purse

In this week’s newsletter, we spotlight BlockFi’s Women x Crypto survey data (US) which indicates that 1 in 10 women invested in crypto as their first investment.

And 20% of Gen Z women see bitcoin as the best long term investment compared to every other potential asset class. Whilst only 10% of Gen X women think the same.

The majority of female crypto owners (69%) said they hold crypto and remain hold-only.

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And you can review the news in brief so you stay on top of global financial, economic and investing trends.

I hope you enjoy this week’s newsletter.

Until next week,

Jana

Survey: 1 in 10 women invested in crypto as their first investment (ever)

For 33% of women, investing in retirement funds was their first point of entry.

BlockFi’s latest survey (US) found that 10% of women chose crypto as their first investment compared to 33% of women investing in retirement funds, as their first point of entry.

For 17% of Millennial women and 11% of Gen Z women, crypto was their first (ever) investment. And even though Gen X women have had more time to enter other asset classes, only 7% invested in crypto as their first investment.

But overall, 25% of women said that they have yet to invest (in any asset class).

Wealth building strategy

BlockFi’s research also found that 1 in 4 women said they are not confident in their wealth-building investment strategy. And less than half (45%) feel financially secure.

The good news is that 1 in 3 women talk about money in their social circles, although this seems more common in younger generations. Gen X and Baby Boomers are less likely to talk about money with their friends.

And while most women have heard about crypto, nearly 81% of women still report crypto to be confusing and 77% view crypto as a risky investment.

Women, bitcoin and the HODL

Despite the crypto bear market, 22% of women intend to buy crypto in the next 12 months (this is down from 28%).

1 in 5 women regard crypto as a good hedge against inflation. And 20% of Gen Z women see bitcoin as the best long-term investment compared to every other potential asset class. Whilst only 10% of Gen X think the same.

The survey indicates that women regard investing in crypto as a long term investment strategy. And the majority of female crypto owners (69%) said they hold crypto and remain hold-only.

Knowledge and community is key

Women are keen to engage more around money and invest. Research across the board suggests that women want to learn and be educated on how to make their money work for them.

This is less about ‘tactics’ and ‘chasing alpha’ and more about building knowledge and confidence within a community. That is not to say women are not interested in performance. They are, but their approach to money and investing differs to men.

Flori Marquez, Founder and Chief Operating Officer of BlockFi, commented:

“Knowledge drives empowerment and confidence. I would encourage those women who feel financially secure and confident in their investing strategies, especially in the crypto community, to reach out to those in their social circles who may not feel the same and see how you can help them build their financial confidence.”

Seek out role models, mentors or likeminded women who share a similar interest in learning about crypto.

Sign up to newsletters (like this one), listen to podcasts and commit to furthering your knowledge on the topic every week.

Or better yet, decide to invest, even if this is £10 or $10 a month.

Once you’re invested, even if this is a small amount, you will start to pay more attention and learn as you go.

What next? Re-read this:

Disclaimer: invest only what you are prepared to lose. Please do your own research or speak to a financial adviser.

Financial news

US stocks finished higher for the second consecutive week despite a series of earnings that caused investors to shed shares of some of the world’s biggest tech companies. S&P 500 gained almost 4% this week and finished 3,900+ points.
The S&P 500 is now at a pre-pandemic high relative to tech heavy Nasdaq 100. (There is such a thing as reversion to the mean, after all).
European Central Bank (ECB) hikes rates by 75bps as expected. Main rate to 2%. Expects to raise rate further. No quantitative tightening yet.
The FTSE 100 felt the pressure of poor technology earnings (down 0.4% to 7,043) in the US on Friday while a warning from NatWest hit sentiment around UK stocks.
FANGMAN complex has lost another $270bn in market cap after Meta guidance disappointment. Meta alone has lost a quarter of its value $90bn.
Microsoft’s $811bn rout is Big Tech’s worst in 2022, BBG has calculated. Other big names among the largest losers this year include Meta Platforms, Nvidia and China’s Tencent Holdings.
UK has a new Prime Minister, ex-Chancellor, Rishi Sunak. Sunak will be Britain’s first leader of colour & first Hindu to take the top job.
The UK gender pay gap is alive and well. The average pay disparity between male and female UK workers has stretched to more than 8%. And the gender pay gap is at 15.5% between the highest earning men and women.

Crypto: bitcoin, ethereum, DeFi & NFTs

Bitcoin and ether trade lower as correlation to equities wanes. And bitcoin is trading at $20,600+ today, while ether is just under $1,600.
Dogecoin rallies after Elon Musk’s Twitter takeover. Dogecoin was up 116.7% over the last week, after billionaire Elon Musk took over Twitter.
Report: State of Solana 2022. Solana's position in the NFT sector remained the second largest by secondary sales volume, behind Ethereum, and narrowed the gap.
Crypto company Blockchain to issue Visa debit card. The newest card from Blockchain, will be issued through fintech platform Marqeta, comes with no fees and allows users to earn 1% back in crypto.
Andreesen Horowitz (A16z), one of the largest crypto investors, has seen a 40% drop in value for its flagship crypto fund.

Coffee Break? Read This

We’d love to hear from you. Get in touch with Jana via the The Purse website or tweet @jointhepurse and @janicka.

The Purse provides content for informational purposes only, we do not recommend products or services or provide investment advice. Please do your own research or speak to a financial adviser.