Crypto Investors, Eventually Buying Bitcoin Again? The Choice Shown by 3 Years of Data

▲ Bitcoin (BTC) ©CoinReaders

Bitcoin (BTC) has been shown to be the overwhelming choice not only for individual investors buying cryptocurrency for the first time but also for those returning to the market. In transaction data spanning three years, both first and second purchases accounted for approximately 42%, nearly double the combined share of Ethereum and stablecoins in second transactions.

According to the cryptocurrency specialized media outlet Finbold on September 11 (local time), an analysis of individual investors' purchasing behavior by the cryptocurrency exchange Paybis from August 2023 to August 2026 showed that Bitcoin accounted for 42.21% of users' first transactions and 42.67% of their second transactions. Even during a three-year period where market conditions changed significantly, the proportion of second purchases actually increased by 0.46 percentage points, maintaining virtually the same share.

The gap was even more pronounced when compared to other major assets. Ethereum (ETH) increased by 0.43 percentage points from 10.39% in first transactions to 10.82% in second transactions. In contrast, the combined share of stablecoins decreased from 15.29% to 11.83%. In second transactions, the combined share of Ethereum and stablecoins was 22.65%, slightly more than half of Bitcoin's 42.67%. The combined share of Bitcoin and Ethereum also increased from 52.6% in first transactions to 53.5% in second transactions, indicating a tendency for repeat buyers to focus on these two major cryptocurrencies.

Among those analyzed, 795,141 investors used Paybis again after their first purchase. Of these, approximately 70% (557,727 people) made a total of 2-5 transactions, and about 22% (171,977 people) made 6-20 transactions. Users who transacted more than 20 times also exceeded 8%, totaling 65,437 people. Konstantins Vasilenko, Co-founder and Chief Business Development Officer (CBDO) at Paybis, explained that Bitcoin is an asset that users purchase repeatedly, while stablecoins often serve a specific purpose like payment or remittance in a single transaction, making it difficult to assess adoption levels based solely on repurchase rates.

Indeed, Tether (USDT) led the decline in stablecoin share, decreasing by 4.03 percentage points from 11.26% in first purchases to 7.23% in second purchases. However, Tron Network-based USDT increased from 3.06% to 3.65%, and USD Coin (USDC) decreased from 0.83% to 0.63%. Paybis emphasized that the decrease in repurchase share does not necessarily mean a decline in stablecoin usage, stating that they processed $1.2 billion in USDT and $583 million in USDC transaction volume over the past 12 months.

Ultimately, the core of this data is not that 42% of Bitcoin buyers repurchased it, but that Bitcoin accounted for approximately 42% of Paybis users' first and second cryptocurrency purchases, respectively. The fact that the proportion of repeat buyers choosing Bitcoin remained almost unwavering even during three years of significant market volatility suggests a sustained preference for Bitcoin in the individual investor market.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*