Investors in the cryptocurrency market, many of them millennials or Gen Z, are They trust more than ‘celebrities’ and ‘influencers’ when investing in crypto assets that of the great gurus of the market, such as Ray Dalio, according to a recent survey.
The Morning Consultant survey, collected by ‘CoinTelegraph’, conducted of 2,200 American adults, 45% of respondents who own cryptocurrencies indicated that they are likely to seek exposure to a digital asset if endorsed by a celebrity, compared to only 20% of the participants overall.
Nearly 20% of all respondents and nearly a third of cryptocurrency owners said they were aware of a post posted on the Kim Kardashian’s Instagram account promoting the ERC-20 Ethereum Max (EMAX) token in early June. A staggering 19% of respondents who saw the Instagram ad admitted to investing in Ethereum Max afterwards, though they only represent 3.8% of the total sample.
The study also reveals other data such as that three-quarters of crypto investors indicated that they were likely to invest on the recommendation of a family member or friend, while 81% would invest in response to the advice of a financial advisor.