Surprising Shift: Why 1 in 10 Crypto Investors Skip Bitcoin Despite Its Market Dominance

Bitcoin's Dominance: Not Everyone's First Choice in the Crypto World

Bitcoin has maintained its position as the first cryptocurrency in history and continues to lead the market with a capitalization representing approximately 50% of all cryptocurrencies. However, despite its "king" status, a recent survey by CoinGecko reveals an interesting trend: 1 in 10 crypto investors has never purchased Bitcoin. This finding challenges our assumptions about BTC's universal appeal among crypto enthusiasts.

Bitcoin Remains the Gateway to Crypto for Most Investors

According to CoinGecko's research survey of 2,549 participants from their community, 62.9% of respondents indicated that Bitcoin was their first cryptocurrency purchase. This statistic confirms that Bitcoin continues to serve as the primary entry point into the crypto sector for most investors.

However, a closer look at the data reveals a generational shift between veteran investors and newcomers:

• 76.5% of individuals who have experienced three or more market cycles started by purchasing BTC
• Only 54.9% of first-cycle investors began their crypto journey with Bitcoin

This suggests that newer market participants are diversifying their portfolios more rapidly than early adopters, who typically started with Bitcoin before exploring other projects.

Current Ownership and Investment Patterns

The survey provided additional insights into how investors interact with Bitcoin:

• 75.9% of respondents currently own Bitcoin
• 14.3% have owned Bitcoin in the past but no longer do
• 9.8% have never purchased Bitcoin at all

This last statistic is particularly noteworthy, as it indicates that nearly one in ten crypto investors has navigated the crypto space without ever owning the market's dominant asset. These investors likely entered the market through alternative routes such as memecoins, NFTs, or primarily use stablecoins for their transactions.

How Investors Access Bitcoin

When it comes to purchasing methods, the survey revealed that:

• 92.8% of respondents buy Bitcoin directly on spot markets
• Only 17.6% access Bitcoin through ETFs

This shows a strong preference for direct ownership despite the recent introduction of Bitcoin ETFs that have made the asset more accessible to traditional investors.

Storage Preferences and Security Practices

The survey also sheds light on how Bitcoin investors store their assets:

• 41.2% keep their Bitcoin on centralized exchanges (CEXs)
• 53.6% prefer self-custody solutions using hot or cold wallets

The preference for self-custody highlights growing awareness about security best practices in the crypto community, as this approach provides greater protection against exchange hacks or failures.

The Changing Face of Crypto Investment

These findings paint an evolving picture of the crypto investment landscape. While Bitcoin remains dominant and continues to be the first choice for most investors entering the space, the data suggests a gradual shift toward greater diversification, especially among newer market participants.

The fact that one in ten crypto investors has never purchased Bitcoin indicates the expanding breadth of the cryptocurrency ecosystem, where alternative assets and use cases are gaining traction. As the market matures, it will be interesting to see if this trend continues or if Bitcoin will reassert its position as the essential holding for all crypto investors.