A recent survey has revealed fascinating insights into the behavior of cryptocurrency participants, indicating that nearly 10% have never made a purchase of Bitcoin. This statistic underscores a notable shift among cryptocurrency enthusiasts, favoring altcoins or stablecoins rather than the dominant cryptocurrency in the market. A recent survey collected insights from 2,549 participants from August 22 to September 11, 2025, revealing that 62.9% of those surveyed began their cryptocurrency journey with Bitcoin.
Nonetheless, this percentage diminishes for those entering the market recently, as merely 54.9% of fresh participants start their journey with BTC. Interestingly, a significant 76.5% of seasoned crypto enthusiasts, those navigating their third cycle or more, identified Bitcoin as their first investment. This development indicates that alternative cryptocurrencies are increasingly being recognized as viable entry points into the crypto landscape. A significant majority of Bitcoin holders, specifically 92.8%, favor acquiring it directly, while 71.8% are committed to exclusively purchasing spot Bitcoin.
This approach continues to be favored for its ease of access for individual investors. A minority of participants, specifically 17.6%, possess exposure to Bitcoin ETFs, whereas 15.2% have acquired Bitcoin via treasury companies. Among participants, derivative exposure stands out as the least utilized approach, with a mere 10.4% engaging in this strategy. In terms of storage, a significant 41.2% of Bitcoin holders opt to keep their assets on centralized exchanges, favoring ease of access at the expense of security. Conversely, a notable 53.6% of individuals favor self-custody solutions, opting for either hot or cold wallets. Cold wallets have gained significant traction, with 38.1% of participants expressing a preference for this choice, compared to 15.5% who lean towards hot wallets. Furthermore, 5.2% of respondents possess Bitcoin via indirect avenues, including ETFs or treasury firms. The demographic data from the survey reveals that a significant 68% of participants view themselves as long-term investors in the crypto space, whereas 20% classify themselves as traders.
The participants left in the arena are either those who create or those who observe. Experience levels among participants show a diverse range: 38% are navigating their inaugural crypto cycle, 41% are on their second journey, while 21% boast over eight years of industry experience. The geographical distribution of participants reveals that most come from Europe, accounting for 31%, followed by Asia at 26%, and North America at 22%.